Finance
Virgin Media O2 Owners in Talks to Buy UK Broadband Rival Netomnia, Sources Say
Published by Global Banking & Finance Review®
Posted on February 3, 2026
1 min readLast updated: February 3, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 3, 2026
1 min readLast updated: February 3, 2026
Virgin Media O2 is negotiating to buy Netomnia, a move that could consolidate the UK broadband market. The deal, involving Telefonica and Liberty Global, is valued at 2 billion pounds.
By Paul Sandle and Amy-Jo Crowley
LONDON, Feb 3 (Reuters) - Virgin Media O2’s owners are in advanced talks to buy UK-based Netomnia, two people familiar with the matter said, in a step towards expected consolidation of UK altnet providers.
Telefonica and Liberty Global have teamed up with private equity firm InfraVia Capital to buy the broadband network through their jointly owned fibre business Nexfibre for about 2 billion pounds ($2.73 billion), the Financial Times reported on Tuesday. A deal could be announced later this week, the report added.
Netomnia declined to comment.
Nexfibre, which is the UK’s fourth-largest broadband network, is jointly owned by Virgin Media O2 and InfraVia.
A deal involving Nexfibre and Netomnia would give VMO2 access to roughly 8 million homes and 20 million premises in total, according to the report.
($1 = 0.7323 pounds)
(Reporting by Paul Sandle in London. Writing by Amy-Jo Crowley. Editing by Anousha Sakoui)
An acquisition occurs when one company purchases most or all of another company's shares to gain control. This often leads to consolidation in the market.
Broadband refers to high-speed internet access that is always on and faster than traditional dial-up access. It enables users to stream, download, and browse efficiently.
A telecommunications company provides services related to communication over distances, including phone, internet, and television services.
The UK economy is the economic system of the United Kingdom, characterized by a mixed economy that includes various sectors such as services, manufacturing, and agriculture.
A private equity firm invests in companies by purchasing their shares, often aiming to improve their performance and sell them at a profit.
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