on 02-05-2020 17:35
@SamsungFanBoy Whenever there are mergers of major companies, the two groups who suffer the most are the employees of both merged companies, and ultimately the customer. This eventual end of this current crisis will most likely see a lot more of that.
on 04-05-2020 21:44
Think we can say goodby to the Virgin Media brand if this happens. Basically the brand now has the baggage of Billionaire Beggar Branson which his empire isn't going to last without either collapsing into administration or be sold off at a bargain price so this maybe the last we see of the Virgin brand itself.
Apart from the Vodafone link, its an infrastructure merger in reality as neither has assets in either field but combined, they become a major telcoms prescence. Of course, it depends on a couple of things -
1) What exactly is merging, is the o2 brand and network excluding the masts
2) The entire Telefonica estate and assets in the UK. That if split, doesn't really value o2 as much. I mean, o2 then becomes just a call centre company. Which is outsourced so you then have debt vehicle to pile into and create tax writeoff.
Also given the state of the financial markets, raising the money i.e. debt to pay for is going to be difficult. So short summary: higher bills forever.
on 04-05-2020 21:50
on 05-05-2020 18:48
I ported out from Virgin Mobile as then was nearly 15 years ago after being a PAYG customer for four years as I got fed up of the rubbish coverage and, when I did have to ring them, the waits of 40+ minutes only to deal with someone who would be clicking stuff on a screen without any real idea what they were doing.
The long waits were I think par for the course as after 20 minutes the system would ask if you wanted to change the music you were listening to.
While Branson should be applauded for not moving the Virgin Money operation out of Newcastle I can't think of much else he's done except made shedloads of cash from licencing his brand.
on 07-05-2020 13:52
I'm quoting from the BBC link above which is quoted from the release that I've seen yet, so:
"O2 [is] to be transferred into the joint venture on a debt-free basis, while Virgin Media to be contributed with £11.3bn of net debt and debt-like items," the firms said in a joint statement."
So Virgin Media takes on debt and o2 has none? Er, so it is a debt vehicle to be abused then.
More importantly, apart from the impending name rebrand of o2 & VM, isn't the question really: are we living in the last days of the o2 forum?