Liberty Global took a stake of almost 5pc in Vodafone as it pins its hopes on the share price bounce-back through acquisitions and cost-cutting plans. The US-based telecoms giant said it bought 1.3bn shares, representing a 4.92 per cent stake worth £1.2billion in the company, but confirmed it would not seek a board seat or make an offer for Vodafone. Vodafone shares jumped 2.1 per cent following the news, countering its steady decline on the FTSE 100. ‘A 5 per cent stake will give them a voice and Liberty will be keen on deal-making – something that Vodafone has been accused of being too reluctant to do.’Liberty Global owns Virgin Media O2 in partnership with Spanish giant Telefonica. Paolo Pescatore, telecoms analyst at analysts PP Foresight, called Liberty boss Fries a ‘shrewd operator’ who could cash in on the frenzy surrounding Vodafone.

Source: Daily Mail February 14, 2023 04:47 UTC