Nov 20, 2017

Liberty Global forms joint venture with UK telecoms investor

Liberty Global has formed a joint venture with one of the UK's most acquisitive telecoms investors, as it looks to boost the growth prospects of its Virgin Media business unit. The cable company controlled by John Malone has formed an acquisition vehicle with MXC Capital with a view to acquiring small technology and telecoms companies and building a larger business. MXC has bought and sold 90 UK technology and telecoms companies in the past 15 years, including parts of Redstone, a telecoms company specialising in large properties such as Westfield shopping centre in London, and marketing company 2ergo. The company will take operational control of MXLG Acquisitions, the newly formed joint venture. Liberty Global and MXC have been in talks over the venture for a number of months and have identified a list of targets to build a substantial player in the market for small business telecoms and technology service providers.

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