UK's Virgin Media O2 and Daisy Group combine in business telecoms

Britain's Virgin Media O2 said it was combining its enterprise unit with business-to-business telecoms provider Daisy Group to create a new communications and IT offer for companies.

The new company will be 70% owned by Virgin Media O2, a joint venture between Liberty Global and Telefonica, and 30% owned by Daisy Group, the two said on Monday.

The entity will have pro-forma revenue of about 1.4 billion pounds ($1.85 billion) and adjusted core earnings of about 150 million pounds, based on the groups' 2024 performance, they said.