Published by Global Banking & Finance Review®
Posted on May 14, 2025
1 min readLast updated: January 23, 2026
Add as preferred source on GoogleTelefonica is pleased with its VMO2 partnership and has no plans to acquire Liberty Global's stake. The focus is on UK fiber development.
MADRID (Reuters) -Spanish telecoms company Telefonica's Chief Executive Emilio Gayo said on Wednesday that his company was satisfied with its Liberty Global tie-up to run Britain's Virgin Media O2 and is not seeking to take control.
"We’re very happy with the current situation. The joint venture is working very well, we don’t have any deal on the table," Gayo said in a statement after Bloomberg News reported that the Spanish company was evaluating a potential purchase of part of Liberty's 50% stake in VMO2.
"We are working closely to find the best option to develop fibre in the UK and create value for VMO2," he added.
Telefonica has repeatedly said it is reducing exposure to Spanish-speaking countries in Latin America to focus on Spain, Brazil, Britain and Germany instead.
(Reporting by Inti LandauroEditing by David Goodman)
Telefonica's CEO Emilio Gayo stated that the company is very happy with the current situation and that the joint venture is working very well.
Gayo mentioned that there are no deals on the table at the moment, indicating satisfaction with the existing arrangement.
Telefonica has been reducing its exposure to Spanish-speaking countries in Latin America to concentrate on Spain, Brazil, Britain, and Germany.
Gayo indicated that they are working closely to find the best options to develop fibre in the UK and create value for VMO2.
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