[Horizon]

I think the tax thing is key here actually, and that is what will be attractive to any buyer of Liberty/VM. But I'd imagine the offsetting of the tax losses would stay with VM though. I don't see how Liberty could keep them if VM were sold to someone else.

But as we're playing fantasy who will merge with whom next, I've not seen anyone suggest a Vodafone/Sky combination. So there, I just have, just for fun! But yeah, it is interesting to see what happens next. I've not seen any speculation about Talktalk. I am sure they would not want to miss out on the mobile musical chairs party.