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The talks to merge Telefonica<\/a>'s British mobile operator O2<\/a> and Liberty's Virgin Media<\/a> network company have just started, the Spanish company said.
\"The process started between both parties is in the negotiation phase, with no guarantee, at this point, of its precise terms or its probability of success,\" Telefonica said in a filing to the Spanish market regulator.
Two sources familiar with the matter told Reuters on Friday that talks were ongoing.
In a two-paragraph statement on Monday, Telefonica said it would keep markets informed if a \"satisfactory agreement\" were reached.
Telefonica's UK business, which includes O2, generated 7.11 billion euros in revenue in 2019, around 14.7% of the group's total, and had 34.5 mobile connections on its network.
Virgin Media competes with UK pay-TV market leader Sky, owned by Comcast, in pay-TV, and with BT, Sky, TalkTalk and others in broadband.
It had 6 million cable customers and 3.3 million mobile customers as of the end of 2019.
Telefonica, due to report quarterly earnings on Thursday, has been weighing options for the mobile business since 2016 when a previous 10.3 billion pound ($12.8 billion) O2 takeover bid from Three UK, controlled by CK Hutchison<\/a> Holdings , was blocked by European antitrust regulators.
A combination of O2 and Virgin Media would reshape Britain's telecoms industry<\/a>, leaving Hutchison and Vodafone<\/a> without their own fixed-line consumer networks and raising the pressure on BT.
A deal between Telefonica and Liberty would end uncertainty around the fate of one Britain's biggest mobile operators after it was repeatedly touted as a possible candidate for a sale or a stock listing in recent years.
It would also offer Telefonica a way to partially cash out from O2 while retaining a presence in Britain, which the company sees as one of its core markets along with Spain, Germany and Brazil.
The Spanish company has said last year it plans to raise 2 billion euros ($2.2 billion) in extra revenue by hiving off parts of its Latin American businesses and focusing on its core markets.
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西班牙电信确认英国的并购谈判O2和维珍媒体
西班牙的Telefonica SA周一证实了全球Plc与亿万富翁约翰•马龙的自由可能合并的两家公司的业务在英国。
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谈判的合并西班牙电话公司英国移动运营商O2和自由的维珍媒体网络公司刚刚开始,西班牙公司表示。
“过程开始双方在谈判阶段,没有保证,在这一点上,其精确的术语或成功的可能性,”西班牙电信在西班牙市场监管机构的一份文件说。
两位知情人士周五对路透表示,谈判正在进行。
在周一发表的那篇只有两段文字的表述,西班牙电信表示,将让市场告诉如果一个“满意的协议”。
西班牙电信的英国业务,包括氧气,产生71.1亿欧元的收入,2019年集团的总量的14.7%左右,34.5的移动网络连接。
英国维珍媒体与付费电视市场领导者的天空,康卡斯特旗下在付费电视,BT,天空,TalkTalk和其他宽带。
它有600万有线电视用户,2019年底的330万手机用户。
西班牙电信,因为周四公布季度业绩,一直在权衡选择移动业务自2016年之前的103亿英镑(合128亿美元)的O2收购英国从三个控制CK和记黄埔持有,被欧洲反垄断监管机构。
O2和维珍媒体会重塑英国电信行业,留下和记和沃达丰(Vodafone)没有自己的固定消费者网络和提高对BT的压力。
西班牙电信和自由之间的协议将结束不确定性的命运一个英国最大的移动运营商后反复吹捧为一个可能的候选人近年来出售或上市。
还将提供从O2电信部分现金的方法,同时保留在英国,该公司认为它的一个核心市场随着西班牙、德国和巴西。
西班牙公司去年曾表示,计划筹集20亿欧元(22亿美元)的额外收入,剥离部分拉丁美洲的业务,专注于其核心市场。
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