Telefónica, S.A. (CATS:TEF) is considering the sale of €700 million worth of Telefónica Ireland Limited. Liberty Global Inc. (NasdaqGS:LBTY.A), Hutchison 3G UK Holdings Ltd., a subsidiary of Hutchison Whampoa Ltd. (SEHK:13) and The Blackstone Group L.P. (NYSE:BX) are potential acquirers for Telefónica Ireland. Angel Vil, Chief Financial and Corporate Development Officer of Telefónica said on May 8, 2013, “We are managing our portfolio, aiming to increase the value of the businesses where we are present. We are not in an expansion mode, but yes, we can be in a strengthening mode in some the markets where we operate. Some of those markets could benefit from a market consolidation. And there are several examples, chief operating officer Jose Maria has spoken about one of them before. Ireland could be another one.” As per The Sunday Independent, a Telefonica spokesman said they did not comment on speculation. Mike T Fries, President of Liberty Global, said, “the company may look at mobile assets in Ireland.” According to sources, Telefónica’s advisors are Citigroup, Inc. (NYSE:C) and BNP Paribas SA (ENXTPA:BNP) and Merrill Lynch & Co., Inc.

Liberty Global Inc. reported unaudited consolidated financial results for the first quarter ended March 31, 2013. For the quarter, the company's consolidated revenue increased 9% or $231 million to $2.77 billion, as compared to $2.54 billion in the prior year period. The company's organic growth, led by volume growth in broadband internet and mobile, fueled the majority of its year-over-year top-line expansion. In addition, the company also benefitted from the positive contribution of acquisitions, principally OneLink in Puerto Rico, and to a lesser extent, foreign exchange (FX) movements. Adjusting for both the impact of acquisitions and FX, the company achieved year-over-year rebased revenue growth of 6% in the first quarter of 2013, its best first quarter result in six years. As compared to the corresponding prior year period, total operating cash flow (OCF) increased 6% to $1.27 billion for the quarter ended March 31, 2013. The company reported increase in OCF was largely due to continued organic growth, while acquisitions and FX movements played a smaller role. After adjusting for both acquisitions and FX, its year-over-year rebased OCF growth was 4%, with its Chilean, western European and CEE operations reporting rebased OCF growth of 10%, 6% and 1%, respectively. The company reported operating income increased by 6% to $525 million as compared to $494 million for the three months ended March 31, 2012. The year-over-year improvement was driven by its 9% increase in revenue and lower selling, general and administrative expenses and depreciation and amortization, each of which are measured as a percentage of revenue. These factors were partially offset by higher operating expenses measured as a percentage of revenue and increased expenses relating to impairment, restructuring and other operating items. Earnings from continuing operations before income taxes were $42.4 million compared to $3.9 million last year. Earnings from continuing operations were $21.9 million compared to loss from continuing operations of $29.2 million last year. Net earnings were $21.9 million compared to $8.9 million last year. Net cash provided by operating activities was $557.7 million compared to $805.8 million last year. Capital expenditures were $504.3 million compared to $521.3 last year. Net loss attributable to LGI stockholders was $1.0 million or nil per basic and diluted share for the three months ended March 31, 2013. This compares favorably to a net loss of $25.0 million or $0.09 per basic and diluted share for the same period last year. The year-over-year improvement in its net loss resulted from, among other factors, positive changes in the fair value adjustments associated with its derivative instruments and increased operating income, partially offset by increased losses from foreign currency transactions and debt modification and extinguishment, as well as higher interest expense. The company reported property and equipment additions of $536 million, which represented 19% of revenue for first quarter of 2013, as compared to $507 million or 20% of revenue for the corresponding prior year period. The aggregate spend in the quarter was slightly weighted towards customer premises equipment, which accounted for 45% of its property and equipment additions as compared to 41% in the first quarter of 2012. This was due in part to spend attributable to its Horizon TV roll-outs in the Netherlands and Switzerland. The company free cash flow of $23 million and adjusted free cash flow which excludes costs associated with its Chilean wireless project, of $68 million. This compares to FCF and adjusted FCF of $242 million and $279 million, respectively, for the three months ended March 31, 2012. The lower FCF and Adjusted FCF in the firrst quarter of 2013, as compared to the corresponding prior year period, was primarily attributable to a decrease of approximately $200 million or 26% in cash provided by the operating activities of its continuing operations, even though its OCF was higher by $74 million. The decrease was due primarily to the expected reversal of favorable working capital movements during the fourth quarter of 2012 and, to a lesser extent, higher cash outflow in the quarter relating to cash paid for interest expense. Vendor financing and capital lease arrangements provided a $22 million net benefit to the year-over-year comparison of its FCF and Adjusted FCF.

Liberty Global Inc. announced that they will report Q1, 2013 results on May 06, 2013