FinanceLight Readingabout 1 hour ago
Telefónica Cuts VMO2 Funding Amid UK Fiber Fight
4 min read
Telefónica confirms it will not inject equity into its UK joint venture Virgin Media O2 during the third quarter. The Spanish operator supports the partner's restructuring but denies funding the stake, citing a potential regulatory block on Nexfibre's Netomnia acquisition. VMO2 plans to cut spending by £800 million by 2029 and reduce workforce costs by 30%.
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