Liberty Global CEO: No Further Partnerships with Vodafone Planned
November 17 2016 - 9:23AM
Dow Jones News
By Stu Woo
BARCELONA--Liberty Global PLC (LBTYB) Chief Executive Mike Fries
said Thursday that the telecommunications company has no further
plans to partner with mobile carrier Vodafone Group PLC (VOD.LN),
after the two agreed to a 50-50 joint venture in the
Netherlands.
Mr. Fries said the Dutch joint venture, expected to be completed
by the end of the year, was a "unique situation." He said Liberty
Global, which had an broadband internet and TV empire in the
country, was much bigger than Vodafone. The mobile carrier agreed
to pay Liberty Global 1 billion euros to equalize the 50-50
ownership.
"It was a good place to get to know each other, see if it
works," Mr. Fries said at a Morgan Stanley conference in Barcelona.
"There's nothing else we're talking about right now."
Analysts have speculated that the two telecommunication giants
might attempt a merger.
Write to Stu Woo at stu.woo@wsj.com
(END) Dow Jones Newswires
November 17, 2016 09:08 ET (14:08 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Liberty Global (NASDAQ:LBTYA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Liberty Global (NASDAQ:LBTYA)
Historical Stock Chart
From Sep 2023 to Sep 2024