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Originally Posted by Martin_D
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Vodafone, one of the world’s largest mobile operators, is close to buying large parts of John Malone’s European cable group Liberty Global in a deal worth around €18bn that will expand the UK’s company’s footprint across the continent.
The deal will see Mr Malone, the US billionaire who controls Liberty Global through voting rights, part ways with the company’s German and eastern European assets, according to people briefed on the transaction.
Barring any last minute glitches a deal could be announced as soon as Wednesday morning. Liberty Global reports first quarter results later this evening.
Both Vodafone and Liberty Global declined to comment.
The deal will allow Vodafone to better compete against Deutsche Telekom, the region’s largest telecoms company, which owns T-Mobile and has a network that stretches from the Netherlands across central and eastern Europe to Greece.
Both Vodafone and Liberty Global did not immediately respond to request for comment.
The retreat from Europe by Mr Malone, who earned the moniker of “cable cowboy” for his buccaneering role in consolidating the industry globally, comes as Liberty Global has become increasingly frustrated with the balkanisation of the continent’s market.
Vodafone confirmed in February that it was in early talks with Liberty Global about acquiring certain overlapping asset after the Financial Times first reported about the preliminary negotiations.