- Liberty Global (LBTYA -1.8%) can see more expansion coming in Europe, but the company won't pursue growth for growth's sake, says chief Mike Fries.
- “We’re not motivated by building empires,” Fries says. “We’re motivated by creating value.”
- Yet as empire-building goes, the company is taking on Caribbean-focused Cable & Wireless (OTCPK:CWIXF) for $8B (including debt), one of well over a dozen $1B-plus acquisitions the company has completed over the past 20 years, with an accumulation of debt to go with that.
- Its equation could have changed entirely with talks over a massive combination with Vodafone (NASDAQ:VOD) -- before they turned into talks over an asset swap and ultimately fizzled. "We never say never," says Fries, "but there is nothing happening at the moment."
- And while John Malone (who holds 24% of voting rights) is known for big dealings, Fries says he leaves the company to pursue its course: “I’ve been chief executive for 10 years and everything we’ve done has been self-created. We have the benefit of [Malone’s] strategic insight and guidance but he is not a puppeteer.”
- Previously: Liberty Global unit selling customers to pursue OK for Belgian takeover (Nov. 20 2015)
- Previously: Malone tripling stake in Lions Gate through Discovery, Liberty Global (Nov. 10 2015)