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Vodafone in talks with Liberty Global on Dutch joint venture

Reuters - UK Focus

(Corrects headline and paragraph 1 to substitute joint venture for swap of assets)

LONDON, Feb 2 (Reuters) - Mobile phone operator Vodafone said on Tuesday it was in talks with John Malone's cable company Liberty Global (NasdaqGS: LBTYA - news) about forming a joint venture in the Netherlands.

Liberty Global owns Ziggo (Other OTC: ZIGGF - news) , the largest cable TV operator in the Netherlands, while Vodafone is the second biggest mobile operator after KPN (Amsterdam: KPN.AS - news) .

The two companies were in prolonged talks about combining assets across various European markets, or a broader merger, last year, but could not agree on valuations.

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Vodafone said it was now in talks with Liberty Global about the creation of a joint venture in the Netherlands that would incorporate both companies' local operating businesses.

"The discussions are ongoing and do not extend beyond the creation of a joint venture in the Netherlands," it said. (Reporting by Paul Sandle and Thomas Escritt; Editing by Alexander Smith)