10:59 AM EDT, 05/14/2025 (MT Newswires) -- (Updates with Telefonica's ( TEF ) reply to a request for comment.)

Telefonica ( TEF ) is drawing up plans to take control of the Virgin Media O2 joint venture it owns with Liberty Global ( LBTYA ) , Bloomberg reported Wednesday, citing people familiar with the matter.

"We're very happy with the current situation," Telefonica ( TEF ) Chief Operating Officer Emilio Gayo said. "The joint venture is working very well, we don't have any proposals on the table to change that situation at the moment."

Liberty Global ( LBTYA ) did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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