New Street Research - VIRGIN MEDIA (VMED) VMO2 (Underweight) Q3 25 – Core pressures still present on fixed broadband

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New Street Research

James Ratzer

EUR 8598.00 For Business Accounts Only

VMO2 (Underweight) Q3 25 – Core pressures still present on fixed broadband

A big day for VMO2 – not only do we have the Q3 results which we analyse in detail here – and which show further pressures in the core fixed business….but we also have an FT article suggesting VMO2/ nexfibre is interested in buying netomnia, and which we assessed in our earlier note….

30/10/2025 1 EN

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VIRGIN MEDIA

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New Street Research

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James Ratzer

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VMO2 (Underweight) Q3 25 – Core pressures still present on fixed broadband

VMO2 to buy Netomnia? Our Quick Take

Nexfibre/ VMO2 What can we learn from the newly published accounts

2026 AI Infra. outlook forming: XPU spending catching up with capex, up 95% YoY!

Sarana Menara Nusantara (Buy, IDR 780, +42%) Q3 25 Quick Take: Weaker trends but earnings still resilient on lower D&A costs

CMCSA 3Q25 Quick Take: Improved subscriber trends

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