Liberty Global sees further European opportunities

Liberty Global CEO, Mike Fries.

Liberty Global CEO, Mike Fries.

There is still growth potential in Europe, according to Liberty Global CEO Mike Fries, claiming that consolidation in the European cable and telecoms markets will continue.

Speaking to the Financial Times, Fries pointed to the opportunities in the competitive mobile sector in Europe, claiming that “the consumer wins when networks and infrastructure come together across borders.”

Earlier this year Liberty was in early-stage deal negotiations with Vodafone, but the mobile operator said in September that talks about a possible exchange of “selected assets” had been terminated.

However, hinting that deal talks could be revived, Fries told the FT that while there is nothing happening at the moment “we never say never.”

The comments come a week after Liberty agreed to buy Cable & Wireless Communications (CWC) for £3.5 billion (€5.0 billion) in what it described as a “watershed” move to expand its presence in the Caribbean and Latin America.

Earlier this month Liberty Global and Discovery Communications each said they will take 3.4% stakes in production firm Lionsgate Entertainment.