John Malone’s Liberty Global may give £500,000 to UK Remain campaign

US billionaire John Malone's Liberty Global may pledge as much as £500,000 (€633,000) to a UK campaign lobbying to keep the country in the European Union, as the country prepare to cast votes on Brexit next month.

Shareholders of the cable-TV company will be asked to vote on a contribution to the campaign group Britain Stronger in Europe at the next annual general meeting, according to an April 29th regulatory filing.

Liberty, which owns Virgin Media in Ireland and Britain, is headquartered in London and operates in 12 European countries, providing TV, broadband and telephony."

Stronger in Europe

Along with many other multinationals with a strong European presence, Liberty Global is evaluating a potential contribution of up to £500,000 to Britain Stronger in Europe, given the uncertain macroeconomic impact that a UK exit from the EU could have on business and consumers,” Liberty Global said in the filing.

In February, almost 200 chief executive officers signed a letter registering their support for the UK to stay in the 28-member bloc. Martin Sorrell, chief executive officer of the world's largest advertising company, WPP, has said some companies have cut back on capital spending in advance of the June 23rd vote. The chief executive of mobile operator O2, Ronan Dunne, said an exit would increase costs for his business and the British pound would fall.

Bloomberg