Telecom giants Virgin Media and O2's £31billion merger has launched with the newly formed firm promising to help power the nation's recovery after coronavirus, according to MailOnline

Representing the biggest UK merger in a decade and the largest UK telecoms deal ever, Virgin Media O2's parents companies Liberty Global and Telefónica were given the green light for the joint venture last week.

The Competition and Markets Authority approved the deal following an in-depth investigation, concluding concerns that customers would see price hikes from the telecoms deal were unfounded.

The new business becomes one of the UK's largest, with 47million connections across broadband, mobile, TV and home phone.

Virgin Media O2 has also committed to invest at least £10billion over the next five years in the UK.

The investment will see the business contribute to the Government's connectivity targets, upgrading infrastructure in more parts of the country and bringing more choice and competition to many areas that need it most.

This includes building on its existing fibre network expansion activity and bringing 5G services to new areas across the nation - including around 200 towns by the end of June.

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MailOnline - 'We're ready to shake up the market': Virgin Media O2 brand launches today after multi-billion pound merger