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Stock impact report

Telefonica, Liberty Global Weigh Combining U.K. Units [Yahoo! Finance News]

Telefonica SA (TEF) 
Last telefonica sa earnings: 2/23 04:01 pm Check Earnings Report
) -- Telefonica SA and billionaire John Malone’s Liberty Global Plc are exploring a combination of their U.K. operations, people with knowledge of the matter said, in a deal that would reshape the British telecommunications industry.The companies are discussing bringing together Telefonica’s O2 wireless unit and Liberty Global’s Virgin Media business, according to the people, who asked not to be identified because the information is private. If they reach an agreement, a transaction could be announced as soon as next week, the people said.Liberty Global’s class A shares jumped as much as 14.2% in New York trading Friday, while Telefonica’s American depositary receipts rose as much as 7.2%.A tie-up would add to a long history of dealmaking by Malone, who earned the nickname “Cable Cowboy” while at the forefront of the American pay-television industry in the 1990s. Combining forces in the U.K. would help Telefonica pare its debt and deliver on a new strategy meant to streamline its glob Show less Read more
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