AdvertisementAdvertisementBusiness01 Aug 2025 10:03PM (Updated: 01 Aug 2025 10:26PM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST LONDON :Liberty Global said Britain's Virgin Media O2 - its joint venture with Telefonica - would still play a role in fibre consolidation after the Spanish company said a plan to spin off the network had been scrapped."I do see us playing a role in altnet (alternative fibre networks) consolidation, which was one of the main benefits of the Netco project that we were exploring together," Chief Executive Mike Fries told analysts after the group reported second-quarter results on Friday."I think there are many things about the Netco strategy that Telefonica would agree with and other aspects they don't."And so as good partners we will work to find the areas of agreement and head forward."Telefonica's Chief Executive Marc Murtra told Reuters on Wednesday the plan to spin off Virgin Media O2's fixed network had been scrapped.Reports last year said the companies were planning to sell a 20-40 per cent stake in the network as part of the spinoff.Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST