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Monday 26 September 2016

Vodafone ends talk with John Malone's Liberty Global on asset swap

Published 28/09/2015 | 07:58

A pedestrian talks on her mobile phone device as she walks past a Vodafone advertisement outside a store, operated by Vodafone Group Plc, in London, U.K., on Friday, June 5, 2015. Vodafone Group Plc said it was in talks to exchange assets with billionaire John Malone's Liberty Global Plc in a deal between two of Europe's biggest wireless and cable providers. Photographer: Chris Ratcliffe/Bloomberg
A pedestrian talks on her mobile phone device as she walks past a Vodafone advertisement outside a store, operated by Vodafone Group Plc, in London, U.K., on Friday, June 5, 2015. Vodafone Group Plc said it was in talks to exchange assets with billionaire John Malone's Liberty Global Plc in a deal between two of Europe's biggest wireless and cable providers. Photographer: Chris Ratcliffe/Bloomberg

Vodafone, the world's second largest mobile operator, has ended talks with Liberty Global about an exchange of assets.

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Vodafone said in June it was considering swapping some businesses with Liberty, Europe's biggest cable company, a move that would enable the groups to sell the packages of mobile, fixed-line, broadband and television increasingly offered by rivals.

However, it ruled out full-blown potential £120bn merger talks that had long been rumoured.

It did not detail the type of assets under consideration or their geographic locations.

US cable giant Liberty Global is owned by billionaire John Malone. One of its subsidiaries, UPC, recently purchased Irish television station TV3.

In a statement issued this morning the British firm said “On 5 June 2015, Vodafone Group confirmed that it was in the early stages of discussions with Liberty Global regarding a possible exchange of selected assets between the two companies.

“Vodafone today announces that discussions with Liberty Global have terminated.”

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