Liberty Global CEO says won't change Virgin Media strategy
LONDON (Reuters) - Liberty Global won't change Virgin Media's strategy on network roll-out and content if its deal to buy the British cable group goes through, Liberty's chief executive said on Wednesday.
The $15.75 billion deal was "compelling" for both sets of shareholders, said Mike Fries, Liberty's chief executive in a call with journalists on Wednesday.
He said Liberty would continue to invest in Virgin's broadband network.
Virgin Media CEO Neil Berkett said he would step down after the deal closed.
John Malone's Liberty Global struck a deal late on Tuesday to buy Virgin Media, a move that would put the U.S. billionaire up against old rival Rupert Murdoch. (Reporting by Paul Sandle, Writing by Rosalba O'Brien)
- PepsiCo Inc reported a higher-than-expected quarterly profit and raised its full-year adjusted earnings forecast, helped by strong sales of snacks such as Lays and Doritos chips in North America.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.