Vodafone Ends Talks With Liberty Global Over Asset Exchange -- Update
September 28 2015 - 2:56AM
Dow Jones News
By Razak Musah Baba
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.
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
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 28, 2015 02:41 ET (06:41 GMT)
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