Liberty Global launches telco JV with MXC Capital

By:
James Pearce
Published on:

New UK joint venture will look to drive growth in Liberty's share of small and medium enterprise market in the UK through acquisitions

Liberty Global has partnered with merchant bank MXC Capital to launch a joint venture that will buy smaller telcos and drive the Virgin Media-owner’s share of the small and medium enterprise market.

The new JV, called MXLG Acquisitions Limited, has been announced after weeks of discussions and will see each partner appoint two directors.

According to a report in the Financial Times claimed that during the discussions, the two companies developed a shopping list of smaller telecoms firms it will try to buy over the next few months.

The newly established joint venture company will initially seek to undertake a series of acquisitions in order to create an enterprise of size and scale, taking advantage of MXC’s knowledge and understanding of the market, John Malone-owned Liberty Global’s existing network and solutions, as well as the opportunities both parties see to consolidate what remains a fragmented market.