Vodafone Group PLC and Liberty Global PLC are discussing a range of potential transactions, including an outright merger, amid consolidation in the telecommunications industry, people with knowledge of the matter said.
The talks are informal and at a very early stage, and an agreement may not be reached because of the complexity of the proposed transactions and regulatory concerns, said the people, asking not to be identified because the deliberations are private. Management issues, including who would run the combined company and the role of billionaire Liberty Global Chairman John Malone, pose a substantial challenge.
A merger of the two companies would be one of the largest deals ever, based on enterprise value, with Liberty Global currently at about $89 billion and Vodafone closer to $141 billion.
