Benzinga | Oct 22, 2021 07:23PM EDT

Liberty Global Explores Network Deal: Report

* Billionaire John Malone's cable group Liberty Global PLC (NASDAQ:LBTYA) (NASDAQ:LBTYK) is amid discussions to carve out its network assets, Bloomberg reports.

* Liberty is exploring splitting off its telecom infrastructure like cable and fiber, leaving its remaining businesses to focus on providing mobile, internet and TV services.

* Executives at Spain's Telefonica SA (NYSE:TEF), which co-owns Liberty's biggest asset Virgin Media O2, are ready to apply that idea to their recently merged U.K. business.

* A Bloomberg analyst estimated that Virgin Media O2's fixed-line network could be worth 9.8 billion pounds ($13.5 billion).

* Liberty also co-owns VodafoneZiggo, a joint venture in Holland, Telenet Group Holding NV (OTC:TLGHY) in Belgium and Sunrise UPC in Switzerland.

* Liberty hired consultancy Accenture PLC (NYSE:ACN) to help with the work.

* A restructuring could help Liberty Global tap investor demand for pure digital infrastructure and raise funds for upgrades or expansion.

* Liberty Global CEO Mike Fries has said the group's companies are undervalued and are also examining potential IPOs.

* Meanwhile, it is co-investing in digital infrastructure with the launch of AtlasEdge, a data center joint venture co-owned by DigitalBridge Group Inc (NYSE:DBRG) and Liberty Networks Germany, a fiber joint venture with InfraVia Capital Partners.

* Price Action: LBTYK shares traded higher by 0.74% at $29.87 Friday afternoon.