RE: Broker Price14 Feb 2023 11:54
GQ LONDON, Feb 14 (Reuters) - Shares in Vodafone rose 4% to a 12-week high on Tuesday after Liberty Global bought a near-5% stake, giving it scope to influence deals the British telecoms group is pursuing.
John Malone's Liberty Global, the joint owner of Virgin Media O2, a major rival to Vodafone in Britain, said it was an opportunistic investment. It ruled out making a takeover bid and said it was not seeking a board seat.
Liberty Global's Chief Executive Mike Fries said Vodafone's share price did not reflect the underlying value of the business and its opportunities for consolidation.