Liberty Global Shares Rise on Deal Speculation
Liberty Global shares rose nearly 4% ($3 each) in early trading Thursday, after Macquarie Equities media analyst Amy Yong speculated the international cable giant could be a target of global phone power Vodafone.
Liberty shares were up as much as 3.9% ($3 per share) Thursday to $79.14 each, before closing at $78.59, up 3.2% or $2.45 per share.
In a research note Thursday, Yong speculated that Vodafone, which is in talks to sell its 45% stake in Verizon Wireless back to Verizon Communications for as much as $130 billion, could use some of that cash in a deal for Liberty Global.
This isn’t the first time the two international communications giants’ paths have crossed – in June Vodafone outbid Liberty Global for German cable power Kabel Deutschland, offering about $10 billion for the largest MSO in that country. According to Yong, Vodafone’s thirst for cable assets could lead it to the negotiating table with Liberty Global.
