Virgin Media O2 to buy spectrum from merged Vodafone/Three UK (Il Sole 24 Ore Radiocor) - London, 03 Jul - The UK telecommunications group Vodafone and VMED O2 UK (Virgin Media O2) announced a new sharing agreement for their mobile network which extends the partnership for more than a decade.

"Vodafone UK and Virgin Media O2 have agreed to extend and enhance their existing mobile network sharing agreement for more than a decade, bolstering quality mobile coverage across the country and delivering improved services for customers," according to a statement.

Under the agreement, Virgin Media O2 will acquire spectrum from the newly created company resulting from the planned merger between Vodafone UK and Three UK. The UK's Competition and Markets Authority has yet to clear the merger.

"Many elements of the agreement expand on the existing arrangement between Vodafone UK and Virgin Media O2 and are independent of the Vodafone UK and Three UK merger outcome.

However, subject to completion of the merger, the operators have agreed that Virgin Media O2 will acquire spectrum from the newly created MergeCo, establishing three scaled mobile network operators each with better alignment of spectrum holding," it added.

The merged company plans to invest 11 billion pounds in its network over the next decade and Virgin Media O2 intends to spend 2 billion pounds annually in its networks and services.

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(RADIOCOR) 03-07-24 08:30:34 (0147) 5 NNNN