- Business daily Expansion reports that Telefonica (TEF -0.5%) is looking at the possibility of a deal to integrate the O2 mobile unit with Liberty Global (LBTYA +0.5%) in the UK.
- The two have been linked before, including last spring after Europe acted to block a merger of O2 with Hutchison's Three UK.
- And then the UK's vote to exit the EU sent telecoms including Liberty and Telefonica reeling, with high odds stacking up against a potential merger in a tough antitrust review environment.
- O2 has been preparing to float an initial public offering of its own, so the new report revives talks of a merger deal instead.