The owners of Virgin Media O2, Telefónica and Liberty Global, are exploring measures such as dividend cuts, job losses, and reduced investment to slash the company's £22 billion debt pile.

Virgin Media O2's bonds have tumbled as the telecoms group faces increased competition from alternative broadband providers taking market share. Investors are also expressing concern over a £2 billion deal with Netomnia.

Virgin Media O2 announced a 6.5% drop in total revenues to £2.39 billion and a 3.4% decline in underlying earnings to £901.7 million in the first quarter, attributing it to a turbulent market.

Boss of joint owner Telefónica vows to ‘help’ its UK subsidiary better compete with BT’s Openreach network

UK mobile operators Virgin Media O2 and VodafoneThree have activated a new 'kill switch' feature for phones stolen from their stores, aiming to disrupt the black market for stolen devices.

Nokia has secured a significant 5G RAN deal with Virgin Media O2, aiming to advance the mobile transformation plan for the telecommunications company.

The telecoms group said it lost 138,400 broadband customers and 397,500 mobile customers on a net basis in 2025.

The UK's competition watchdog has launched an in-depth investigation into the planned £2 billion takeover of Netomnia by Telefónica and Liberty Global, owners of Virgin Media O2, which could delay consolidation in the fibre broadband sector.

Major UK telecoms groups, including Virgin Media O2 and VodafoneThree, have implemented a 'kill switch' mechanism to reduce phone theft directly from stores, following resistance from manufacturers like Apple and Samsung to adopt broader anti-theft measures.

Virgin Media O2 has warned it will stop building broadband infrastructure if a proposed £2 billion deal is prevented from going through.