Liberty Global owner John Malone signals weakened pound increases prospects of Vodafone takeover
Liberty Global (Nasdaq:LBTYA) owner John Malone has indicated that the weakened value of sterling following the UK’s Brexit vote increases the chances of the group attempting a takeover of Vodafone (LON:VOD), The Times reported. Malone travelled to London to meet employees of Liberty subsidiary Virgin Media this week; when asked privately at a gala dinner if a deal for Vodafone is more likely in the light of the falling value of the pound he said the weakened British currency “certainly” encouraged him to consider the situation and look at whether anything could be done, the item reported.
Malone last year said the two media and telecoms groups would be a “great fit” and they have already agreed to join forces on a Netherlands-based joint venture, the report noted.
Malone went on to say that Liberty would not necessarily wait to agree a deal with Vodafone and could instead opt to take over the Spanish-owned UK-based telecoms group O2. “Everything” is considered and evaluated, he said.
Vodafone Chief Executive Vittorio Colao stated yesterday, Friday 22 July, that he did not believe the prospects of a deal with Liberty to have been affected by the UK’s vote to leave the European Union, the item reported.