Job cuts, lost customers and a £22bn debt pile: what has gone wrong at Virgin Media O2?
The company has lost 182,000 broadband and 644,000 mobile customers in two years and is operating in an increasingly competitive market competition Mike Fries may be totting up swingeing job cuts, a £22bn debt pile and the loss of hundreds of thousands of customers, but he appears to be putting a brave face on the situation. “In our minds, anyway, this is not a crisis,” the boss of the co-owner of
Virgin Media O2's customer losses and £22bn debt raise concerns over UK telecom sector stress
- Lost 182k broadband and 644k mobile customers in two years; carries £22bn debt pile
| Asset | Bias | Rationale |
|---|---|---|
| No direct listed exposure identified — we do not map to an instrument when none is publicly tradable. | ||
- FTSE 100 Telecom Index
- UK 10-year Gilt Yield
- GBPUSD=X
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Published：2026-11-07 11:10:21 · Source：guardian · Automatically aggregated and analysed — verify against the original source.