Vodafone Could Become Largest Telecoms Company in Europe With Takeover of Virgin Media

UK telecoms company Vodafone are exploring a possible takeover of Liberty Global, owner of internet and cable operator Virgin Media, making it the largest phone, internet, and TV provider in Europe.

Anonymous sources close to the deal revealed the news to Bloomberg. No deal has been agreed, nor have any negotiations have taken place, and Vodafone are said to be concerned about any potential debt the move might accrue, but serious internal deliberations are on-going.

Liberty Global has a market capitalisation of $38.3 billion, but $41.1 billion in debt after a number of European acquisitions, Virgin Media encluded. Vodafone’s market value is $97 billion, and the company has been buying up cable assets across Europe, including Spain’s Ono SA and Kabel Deutschland of Germany.

Both Vodafone and Liberty Global have so far declined to comment on the prospective deal.

Source: Bloomberg