Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Sky talks on partnering with Virgin Media O2 hit BT

10/04/2021 | 04:24am EST
FILE PHOTO: Company's logo is displayed at British Telecom (BT) headquarters in London

LONDON, Oct 4 (Reuters) - British pay-TV company Sky is in talks about investing in Virgin Media O2's plan to extend its network to 80% of the country, including the possibility of spinning out the cable company's entire network into a joint venture, a source said.

Virgin Media 02, jointly owned by Liberty Global and Telefonica, following a deal completed on June 1, has announced a plan to upgrade its cable network serving 15.5 million premises to full fibre by 2028, stepping up its challenge to BT.

It wants to extend its network to another 7 million premises in the coming years, covering about 80% of the country, once the right "building blocks" are in place.

News of Virgin Media O2's discussions with Sky, first reported by the Sunday Telegraph, sent shares in BT down by as much as 8% on Monday to a six-month low.

The talks between Virgin Media O2 and Sky, owned by Comcast , are at an early stage and involve a number of investment structures, said a person with knowledge of the matter, who asked not to be named because the talks are still at a preliminary stage.

Virgin Media O2 is also in talks about providing wholesale access to its network to broadband operators including Sky, TalkTalk and Vodafone.

Its CEO Lutz Schueler said last month talks were progressing but it was in "no hurry" to strike a deal.

Sky, TalkTalk and Vodafone all provide broadband using BT's Openreach network.

BT has embarked on its own infrastructure programme, taking fibre to 25 million premises by the end of 2026, two years ahead of Virgin Media's network upgrade target.

It expects Sky to remain a wholesale partner for its full fibre network build, a separate person familiar with the situation said on Monday. BT is also seeking a partner for some of its investment plans.

The second source said Sky may seek to give some volume to Virgin, but would also use BT.

Analysts at Jefferies said BT was likely to complete its network build ahead of the Virgin plan and there were strong reasons for Sky not to go with Virgin.

Virgin Media O2, Sky and BT declined to comment. (Editing by Michael Holden and Barbara Lewis)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BT GROUP PLC -0.76% 165.1 Delayed Quote.25.75%
COMCAST CORPORATION -1.80% 49.08 Delayed Quote.-6.34%
LIBERTY GLOBAL PLC 0.27% 26.47 Delayed Quote.9.29%
12/01LIBERTY GLOBAL : Telenet to launch 5G in BelgiumTelenet has announced the launch of its 5G..
11/23European Commission Greenlights JV By Liberty Global, InfraVia
11/23LIBERTY GLOBAL : Smart farming, with smart breeding of grasshoppers for hens, using 5G tec..
11/22LIBERTY GLOBAL PLC : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K..
11/22LIBERTY GLOBAL : VodafoneZiggo Group B.V. Condensed Consolidated Financial Statements &nda..
11/19LIBERTY GLOBAL PLC : Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K..
11/19LIBERTY GLOBAL : UPC Holding Group Condensed Combined Financial Statements – Septemb..
11/18LIBERTY GLOBAL : Ventures portfolio company Lacework raises $1.3 billionLiberty Global Ven..
11/16LIBERTY GLOBAL : Presents at the Morgan Stanley European Technology, Media & Telecom Confe..
11/16Berkshire Hathaway Dumps Merck, Increases Holdings of Chevron
More news
Analyst Recommendations on LIBERTY GLOBAL PLC
More recommendations
Financials (USD)
Sales 2021 10 598 M - -
Net income 2021 12 390 M - -
Net Debt 2021 12 954 M - -
P/E ratio 2021 1,17x
Yield 2021 -
Capitalization 14 462 M 14 462 M -
EV / Sales 2021 2,59x
EV / Sales 2022 3,42x
Nbr of Employees 23 000
Free-Float 92,6%
Duration : Period :
Liberty Global plc Technical Analysis Chart | LBTYA | GB00B8W67662 | MarketScreener
Technical analysis trends LIBERTY GLOBAL PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 22
Last Close Price 26,47 $
Average target price 39,34 $
Spread / Average Target 48,6%
EPS Revisions
Managers and Directors
Michael Thomas Fries President, Chief Executive Officer & Director
Charles Henry Rowland Bracken Chief Financial Officer & Executive Vice President
John Carl Malone Chairman
Enrique Rodríguez Chief Technology Officer & Executive VP
Paul Alan Gould Independent Director
Sector and Competitors