Liberty Global says Virgin Media O2 will still play role in consolidation

LONDON: Liberty Global said Britain’s Virgin Media O2 – its joint venture with Telefonica – would still play a role in fibre consolidation after the Spanish company said a plan to spin off the network had been scrapped.

“I do see us playing a role in altnet (alternative fibre networks) consolidation, which was one of the main benefits of the Netco project that we were exploring together,” Chief Executive Mike Fries told analysts after the group reported second-quarter results on Friday.