Liberty says Vodafone Dutch joint venture 'probably not' a template for more deals
- Wall Street falls as post-election winners lag
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Big 5 Sporting Goods (BGFV) Q4 Comps Rise 3.1%; Guides Q4 Above the Street
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
U.S. Liberty Global CEO Mike Fries speaks during Cable Congress in Warsaw, Poland June 28, 2016. REUTERS/Kacper Pempel - RTX2INV1
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
BARCELONA (Reuters) - Liberty Global's chief executive said the cable group's joint venture with mobile operator Vodafone in the Netherlands did not signal more deals between the two companies in Europe.
Asked at the Morgan Stanley Technology, Media and Telecoms conference whether the Dutch tie-up was a template for further deals, Mike Fries said: "Hard to say, (but) I would probably say not."
He said the two were not talking about anything else right now. "This was a unique situation," he said at the Barcelona conference on Thursday.
"We were bigger then them in this market. So for us it was a net cash-out deal. It was a small market, (so) a good way to get to know each other."
Vodafone said on Wednesday regulators could look favourably on more co-operation between the two companies as a counterbalance to former telecom incumbents.
Liberty owns strategic stakes in content producers, notably a 9.9 percent holding in British broadcaster and producer ITV, which it has described as an opportunistic investment in its largest market.
Fries said there were few opportunities to do pan-European content deals because the region was fragmented.
But he noted Britain was one market in Europe where there was a trend toward vertical integration -- owning both content and distribution networks.
"Do we need to do that there ? TBD (to be decided)," he said. "I'm not going to give any read on that today.
"Simply said, for us it is about national scale and national local, relevant content, and that should be our first priority."
(Reporting by Harro Ten Wolde, Writing by Paul Sandle. Editing by Jane Merriman and Alexandra Hudson)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Morgan Stanley (MS) Tops Q4 EPS by 17c
- Former USDA chief Vilsack named head of U.S. Dairy Export Council
- Brexit outline gives pound something to cling to - for now
Create E-mail Alert Related CategoriesReuters
Related EntitiesMorgan Stanley, Merriman Curhan Ford
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!