Liberty Global president and CEO Mike Fries downplayed last week’s decision by the U.K. to exit the European Union, telling Reuters that the so-called “Brexit” vote won’t impair its proposed joint venture with Vodafone or reduce its business appetite in the European region.
Fries, speaking to Reuters during this week’s Cable Congress event in Warsaw, Poland, noted that the Vodafone deal is “being reviewed by EU regulators and their review should not be impacted by Brexit."
In February, Liberty Global and Vodafone agreed to merge their operations in the Netherlands in a 50/50 J.V. that will combine Vodafone’s wireless communications assets in the country with Liberty Global’s video, broadband and business services.
Brexit, he added, “has no immediate impact on our business and it has not reduced our appetite or interest in Europe. The U.K. is a relatively large part of our business and in the end British consumers will still want the same products and services."