Telefonica SA Reportedly Ponders UK Takeover of Virgin Media O2

Telefonica’s continues LatAm retreat, mulls double down on UK

News Reports suggest the company is preparing to divest of its Chilean unit, while at the same time making plans to buy Liberty Global’s stake in the UK’s Virgin Media O2 Telefonica is taking the next step in its withdrawal from South American, appointing Citi to oversee the sale of its Chilean unit, according to a report from El Confidencial. Estimates suggest that the unit could be worth up to €1 billion.   Telefonica has gradually been reduci…

Telefonica SA Reportedly Ponders UK Takeover of Virgin Media O2

A new report claims that debt-laden Telefonica SA is allegedly drawing up plans that would enable them to take control of the 50/50 UK Joint Venture (JV) that it owns with Liberty Global, which reflects broadband and mobile provider Virgin Media and O2 (VMO2). In addition, they also have another JV with InfraVia Capital Partners to build a new fibre network in the UK (nexfibre). The new Bloomberg (paywall) report follows VMO2’s recent quarterly …