Business
Liberty Global Acquires 4.92% Interest in Vodafone
CEO Mike Fries calls stake an “opportunistic and financial investment” DENVER, Colorado--(BUSINESS WIRE)-- Liberty Global plc (“Liberty Global”) (NASDAQ:
About this update from Liberty Global Ltd.
[{"type":"text","content":"\nCEO Mike Fries calls stake an “opportunistic and financial investment”\n\n DENVER, Colorado--(BUSINESS WIRE)--\nLiberty Global plc (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) announced today that it has acquired 1,335 million shares in Vodafone Group PLC (\"Vodafone\") representing 4.92% of the outstanding share capital (excluding treasury shares). The transaction was principally funded through an attractive non-recourse financing, requiring equity funding from Liberty Global of approximately £225 million.\n\nMike Fries, CEO of Liberty Global, commented, “We believe, like many others, that Vodafone’s current share price does not reflect the underlying long-term value of their operating businesses, or their announced consolidation and infrastructure opportunities. We continue to remain disciplined about our capital and fully expect that the equity used to fund this investment will be replenished with the sale of certain non-core assets over time.”\n\nNo regulatory approvals are required for an investment at this level and Liberty Global does not intend to seek board representation at Vodafone.\n\nThe investment in Vodafone is part of Liberty Global’s investment portfolio of more than 75 companies and funds across content, technology, and infrastructure, including stakes in companies such as ITV, Televisa Univision, AtlasEdge, Plume, and the Formula E racing series.\n\nLiberty Global confirms that it is not considering an offer for Vodafone. This is a statement to which Rule 2.8 of the UK Takeover Code (the \"Code\") applies.\n\nABOUT LIBERTY GLOBAL\n\nLiberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is a world leader in converged broadband, video and mobile communications services. We deliver next-generation products through advanced fiber and 5G networks, and currently provide over 86 million fixed and mobile connections* across Europe and the United Kingdom. Our businesses operate under some of the best-known consumer brands, including Virgin Media-O2 in the U.K., VodafoneZiggo in The Netherlands, Telenet in Belgium, Sunrise in Switzerland, Virgin Media in Ireland and UPC in Slovakia. Through our substantial scale and commitment to innovation, we are building Tomorrow’s Connections Today, investing in the infrastructure and platforms that empower our customers to make the most of the digital revolution, while deploying...