O2 and Virgin Media UK merger welcomed by lending banks around the world

THERE has been a great deal of bank interest in the proposed merger of 02 (a subsidiary of Spanish group Telefónica) and Virgin Media (a subsidiary of Liberty Global) in the UK with oversubscription for the €4.5 billion credit line.

The funding is needed to finance the new operation and Spanish Banks Santander, BBVA and CaixaBank have committed to loans as have international banks such as Barclays, BNP Paribas and Goldman Sachs.

The new company will have more customers than UK market leader BT.

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Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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