Feb 28, 2017

Vodafone chief says Liberty deal still attractive

The head of Vodafone has argued that the potential for a deal with Liberty Global, of the US, which owns the UK's Virgin Media and other European assets, remains an "Attractive combination". Vittorio Colao, chief executive of Vodafone, said that the merits of some form of deal with Liberty remained intact. The Vodafone chief argued that the two companies represented the only "Serious" challengers to incumbent telecoms companies like Deutsche Telekom and BT. "If Europe wants the creation of real alternatives to incumbents, Vodafone and Liberty are the only two guys in town," he said. Vodafone is in talks with Idea Cellular about a 50:50 joint venture in India, but suffered a setback last week in New Zealand where its proposed deal to merge with Sky Network Television was blocked by regulators. "I am really frustrated with New Zealand, let's be honest. We had a wonderful deal, which was not an exit from the country. The deal was stopped last week and it will not happen," he said.

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