After more than three months of discussions, Liberty Global’s (NASDAQ:LBTYK) chairman John Malone has said his cable group is yet to figure out a “mutually successful” way to exchange assets with Vodafone (LSE:VOD).
After more than three months of discussions, Liberty Global’s (NASDAQ:LBTYK) chairman John Malone has said his cable group is yet to figure out a “mutually successful” way to exchange assets with Vodafone (LSE:VOD).
Malone told Bloomberg that discussions were like a “tennis match” with the companies sharing ideas back and forth.
He said it was up to the investment bankers to see “if they can be creative, if they can come up with something that would work for everyone and get it by multiple objectives”.
Vodafone declined to comment on Malone’s comments.
The two companies entered discussions in early June, when they also said they were not considering a full-blown merger – a transaction long pitched by advisers.
Liberty Global has cable assets in seven European markets in which Vodafone already has a mobile presence. The largest of these are Germany, the UK and the Netherlands.