Daisy Group to Form £3 Billion Telecom Company With Virgin Media O2

Paul, Weiss is advising Daisy Group, one of the U.K.’s largest independent specialist communications businesses, on its merger with Virgin Media O2. The deal will create a new business-to-business telecom company valued at roughly £3 billion, including debt.

The new entity will be consolidated by Virgin Media O2, with Daisy Group holding a 30% stake. It will serve the communications and IT needs of hundreds of thousands of U.K. businesses by offering cloud-based communications tools, 5G private networks, Internet of Things (IoT) connectivity, security solutions and AI-powered products, among other services. The transaction is expected to close early in the second half of 2025, pending customary closing conditions and regulatory approvals.

The Paul, Weiss team is led by corporate partners Stefan Arnold-Soulby and Neel Sachdev, and includes partner Oliver Marcuse.