[Horizon]

The Telegraph reported over the weekend that they reckon this is another Malone tax avoidance scheme. He's the master of it...

John Malone, Liberty’s libertarian controlling shareholder, who has described taxation as “a leakage of economic value”, will be attracted to the deal partly as a tax avoidance opportunity. O2’s profits will presumably be funnelled through Virgin Media’s accumulated losses, which date from the cable rollout of the 1990s, as part of the merger. O2’s accounts show it pays more than £100m a year in corporation tax, which may now count towards synergies instead.

https://www.telegraph.co.uk/business...ger-meets-eye/

https://www.telegraph.co.uk/business...-media-merger/