In today’s short post, a nuanced point that is being overlooked by many in the business press will be discussed regarding the news that Liberty Global, the owner of the UK-based Virgin Media company, is in talks with Telefonica regarding the purchase of its ‘02’ brand. One of the issues that is arising out of this proposed merger, on top of the competition-based issues that will no doubt arise, is how it will be possible and, more importantly, why it will be possible when recent attempts to buy 02 (from a number of companies) have been ruled out on competition-based grounds. It was reported late last week that Liberty Global – the massive telecommunications conglomerate ran by John Malone that also owns Formula One – was in talks with the owner of 02 – Telefonica – regarding the purchasing of the company. The supposed merger would be a 50/50 split between Virgin Media and 02, and Liberty Global would need to make a payment to Telefonica to equalise the ownership. The move w