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Vodafone yesterday ruled out hitching up with Virgin Media even after it sealed a massive joint venture with Virgin’s owner Liberty Global in the Netherlands.
“There is nothing else going on with Liberty,” said Vodafone’s chief executive Vittorio Colao. “This is not a blueprint for other deals and our strategy is evolving market by market. In the UK, that means reselling fixed lines for broadband which we get from BT.”
Vodafone will pay €1bn (£780m) to Liberty to even out the stakes in a venture that will use the cable network of Liberty’s Dutch subsidiary Ziggo alongside Vodafone’s mobile network to offer consumers phone, broadband and TV.
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Mr Colao said putting the two companies together should achieve savings of around €3.5bn.
The deal gives the two companies a much stronger presence in Holland against the original incumbent telecoms operator, KPN. The Dutch joint venture would have had 2015 sales of €4.41bn and operating profit of around €1.9bn, the companies said.
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