Deals
Liberty, Telefonica in Talks to Build $30 Billion U.K. Arm
- Talks hinge on striking equal ownership for JV: sources
- Companies aiming to announce O2, Virgin Media deal this week
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Telefonica SA and John Malone’s Liberty Global Plc have never been closer to finally creating the U.K.’s biggest telecom operator after flirting with various combinations over the years.
Racing for a potential announcement as early as this week, talks hinge in part on striking equal control for the merger of O2 and Virgin Media, while structuring a deal that’ll help the Spanish giant pay down its huge debt pile, according to people familiar with the matter, asking not to be identified because the talks are private.