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BIG INTERVIEW By Ged Henderson


GROWING THE DAISY CHAIN


Matthew Riley is in buoyant mood and it is little wonder. Daisy, the telecoms group he founded in east Lancashire almost a quarter of a century ago, has just sealed a headline-making merger deal with Virgin Media O2.


The move will see the two organisations combine their direct business-to-business operations into a giant new entity with an anticipated turnover of around £1.4bn. The result has been described as creating a British business connectivity powerhouse.


A tired but happy Matthew, speaking to Lancashire Business View just hours after it was announced, also describes the deal in expansive terms. “The


partnership is massive,” he declares and adds: “It just takes us to another level.”


Nelson headquartered Daisy will hold a 30 per cent stake in the new entity. It will be led and chaired by Matthew, while Virgin Media O2 Business’ managing director Jo Bertram will serve as its chief executive.


According to reports, it will be second behind only BT in the UK telecommunications market in terms of size.


At the outset, both businesses will operate under their separate brands from their current office bases. The transaction is expected to be completed later this year, subject to customary regulatory approvals.


Continued on Page 20


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