Virgin Media O2 has reached a deal with Vodafone UK to acquire 78.8 MHz of spectrum for 拢343m.
The firm, which recently announced a mega-merger with Lancashire-based Daisy Group,聽 will now look to improve the connectivity experience of consumers and businesses across the country.
The deal also follows the completion of the merger between Vodafone UK and Three UK, and will bring Virgin Media O2鈥檚 total mobile spectrum share to approximately 30%.
The transfer is part of a wider deal struck between Virgin Media O2 and Vodafone UK in July 2024 where the parties agreed to extend and enhance their existing mobile network sharing arrangement for more than a decade.
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Virgin Media O2 says the spectrum acquisition, incremental to its existing investment of more than 拢2bn in its networks and services, will bolster the quality of its mobile coverage across the country and will deliver improved services for its customers.
It will be partially funded by the minority stake sale in Cornerstone in 2024, with spectrum payments extending beyond 2025 and deployment occurring over the medium term, starting this year.
鈥淭his acquisition of spectrum will not only create greater balance in holdings across the UK鈥檚 mobile networks,鈥� said Lutz Sch眉ler, CEO of Virgin Media O2.
鈥淔or Virgin Media O2 it will allow us to boost coverage and further improve our network quality, building on the significant investment we are already making in our mobile network. 鈥淲e鈥檙e committed to giving our customers a reliable mobile experience across the country and this increase in spectrum will help us deliver on that.鈥�