VMED O2 - comment

Telefonica’s impairment charge on its Virgin Media o2 (VMED) stake reflects the reality of higher rates in the UK. VMED had already guided for lower revenues and EBITDA as it steps up marketing expenses (AKA giving away services to retain customers). Any IPO of the business is not going to be any time soon. VMED is open to external investment in its network business, which could help increase its valuation.

https://www.telegraph.co.uk/business/2024/02/22/virgin-media-o2-spanish-owner-value-stake-telefonica/ (Subscription required)