LBTYA Liberty Global Ltd

LONDON—Vodafone Group on Monday said it has terminated talks with Liberty Global PLC regarding a possible exchange of selected assets between the two companies.

In June, the British telecommunications giant confirmed early stage talks, but ruled out any discussions over a full-blown merger with Liberty Global, a U.S.-based cable operator controlled by John Malone and focused on Europe.

Vodafone didn't detail the discussions in terms of the types of assets under consideration or geographic locale. Vodafone shares dropped more than 2% in early trading.

The talks had put the two European powerhouses at the center of a recent frenzy of European television and communications deal making.

European telecom and cable operators have embarked on a frenetic wave of consolidation in recent years, eager to benefit from the so-called "quadruple-play"—offering services that encompass fixed telephony, mobile, Internet broadband and pay-television. The packaged offerings are aimed at boosting subscriber revenue and winning consumer loyalty.

Liberty Global operates in some of Europe's biggest markets, including Germany, the Netherlands and the U.K., where it owns Virgin Media Inc. The lion-share of Vodafone's profit and sales also come from the continent, with a focus on Germany, Italy and Spain.

Liberty Global has been on the acquisition hunt in recent years to snap up cable operators in Europe, where it has the majority of its broadband networks. For its part, Vodafone has acquired fixed-line assets in Germany and Spain to shore up its flagging mobile business in Europe and bolster its position as a unified media player in a rapidly-evolving market of bundled services.

Write to Razak Musah Baba at Razak.Baba@wsj.com

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(END) Dow Jones Newswires

September 28, 2015 03:25 ET (07:25 GMT)

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