Telefónica you are closer to carrying out a corporate operation. According to the Bloomberg agency this Friday, the Spanish multinational is negotiating unite your UK business, O2; with that of the American multinational Liberty Global. The 'teleco' does not comment on this possibility.
The union of O2 with Virgin Media, as the business in the United Kingdom of the company controlled by magnate John Malone is called, could be announced next week, citing sources familiar with the negotiations. Telefónica will present the result this coming Thursday, May 7.
However, Bloomberg also qualifies that the negotiations are not closed and that, therefore, the agreement could be portrayed or even broken.
As for what businesses could join, O2 is a basically mobile operator, with 34.5 million clients. Instead, Virgin Media focuses, above all, on pay TV and broadband activity and, on mobile, it has an agreement to use BT's network.
It is not the first time that O2 and Liberty Global have sounded like potential partners. The US group came to comment four years ago on the possibility of buying O2 if Telefónica blocked its sale to the group Hutchison. A crash that happened because Brussels vetoed the sale of O2 for competition reasons, given that Hutchison already had an operator in the United Kingdom, Three.
Waiting to see if these negotiations are carried out, for Telefónica its British business is one of the four priorities, along with Spain, Germany and Brazil. However, the rest of activities in Latin America, where in November it opened the door to corporate operations, were from divestment or search for partners. Operations that have been slowed by the coronavirus crisis.