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The proposed merger between Virgin Media and O2 would create as many as 5,000 jobs and apprenticeships in the UK, according to the companies’ parent firms.

The merger plans were announced by the two companies’ owners, Liberty Global and Telefonica, back in May but the £31 billion deal is yet to receive regulatory approval.

Liberty Global, owners of Virgin Media, and Telefonica, owners of O2, say the merger would create 4,000 permanent jobs along with 1,000 apprenticeships for young people.

If approved by the UK competition authorities and the European Commission, the merged company would have almost 40 million customers, and, as one of Europe’s biggest telecommunications players, would be a major competitor to BT, EE and Vodafone.

Announcing the potential jobs bonanza in a joint statement, Mike Fries, the chief executive of Liberty Global, and Jose Maria Alvarez-Pallete, Telefonica’s chief executive, said:

“We want to create a national connectivity champion for the UK which can support the country in its digital-led recovery, by investing in the infrastructure the country needs and promoting jobs and apprenticeships to improve the digital skills base.”

“We want to create the leading fixed and mobile competitor in the market, supporting consumers, businesses and society, and this announcement demonstrates our confidence in the long-term potential of the UK’s digital economy,” added the CEOs.

If the deal gets the green light from regulators, potentially in summer next year, then Telefonica and Liberty Global have committed to an investment of £10 billion in the UK’s network infrastructure and services over the following five years.

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