5/9/2018, 8:37 AM (Source: TeleTrader)
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Vodafone to buy Liberty Global operations for €19B

Liberty Global Plc announced on Wednesday that it is selling its Germany, Hungary, Romania and the Czech Republic operations to Vodafone Group Plc for a total value of around €19 billion, or 28% of Liberty Global’s consolidated 2017 operating cash flow. Following approval from EU regulators, the transaction is expected to close mid-2019.

"We have a rich history at Liberty Global of successfully developing and reshaping our business to drive innovation, advance customer services and create significant value for shareholders. This is one of those moments. The transaction appropriately values our core cable operations at a double-digit operating cash flow multiple and will deliver €10.6 billion ($12.7 billion) of estimated cash proceeds to Liberty Global. Plus, we will retain all cash generated from the four businesses through closing," said Mike Fries, Chief Executive Officer of the American telecoms company.

Breaking the News / DJ