Virgin Media O2 and Daisy Group set to create IT and comms giant

VIRGIN Media O2 has unveiled plans to form a new communications and IT behemoth, which is anticipated to have a turnover of around £1.4bn.

- JON ROBINSON

The development involves the merging of Virgin Media 02 and Daisy Group's direct B2B operations.

The newly forged entity will see Virgin Media O2 holding a majority stake of 70%, while the Daisy Group, headquartered in Lancashire, will retain the remaining 30%.

Daisy Group’s founder Matthew Riley is set to lead and chair the new venture, and Jo Bertram, currently managing director at Virgin Media O2 Business, will take on the role of chief executive.