Virgin Media O2 nears deal to use BT’s Openreach fibre network

Oct 30, 2026 05:57 (9h ago)

Virgin Media O2 is nearing an agreement to use BT’s Openreach network for new customers.
BT shares rose 5% after the Financial Times reported progress on the proposed arrangement.
Virgin Media O2’s owners are contesting the regulator’s blocked £2 billion Netomnia purchase.

Virgin Media O2 is close to an agreement to use BT’s Openreach fibre broadband network to connect new customers in areas beyond its existing footprint, the Financial Times reported on Friday, citing people familiar with the discussions. BT shares rose 5% following the report. Virgin Media O2 is stopping work on upgrading its cable network to fibre as part of a broader cost-cutting programme, while both companies declined to comment. The development follows the owners’ decision to contest the competition regulator’s blocking of their £2 billion purchase of Netomnia rather than offer remedies. Nexfibre, a joint venture between Liberty Global, Telefonica and infrastructure investor InfraVia, agreed in February to buy Substancial Group, Netomnia’s parent, in a transaction the companies said would generate about £3.5 billion of investment in the UK fibre market and compete with BT Openreach.