European Commission Approves Liberty Global, Vodafone Deal

The European Commission has announced its final approval of the sale of Liberty Global’s operations in Germany, Hungary, Romania and the Czech Republic to Vodafone Group plc.

The transaction, announced May 9, 2018, has a total enterprise value of approximately €19.0 billion ($21.5 billion) on a U.S.
GAAP basis1. All regulatory conditions now are met in alignment with the original terms and the transaction is now expected to close by July 31.

Mike Fries, Chief Executive Officer of Liberty Global, stated:
“We’re pleased that the European Commission has recognized the considerable benefits that this important transaction brings to millions of consumers across Germany, Hungary, Romania and the Czech Republic. And it is good news for our employees in each market who will become part of a fixed-mobile national challenger with the strength and scale to take on national telco incumbents.”

After completion of the transaction, Liberty Global will continue to be one of the world’s leading converged video, broadband and communications companies, with consolidated operations in the United Kingdom, Ireland, Belgium, Switzerland, Poland and Slovakia.

Together, these country operations reach 25 million homes, account
for 25 million video, broadband and fixed-line telephony subscribers and six million mobile services. In addition to a significant cash balance as a result of the proceeds, Liberty Global also owns 50% of VodafoneZiggo, a joint venture in the Netherlands with 4 million customers subscribing to 10 million fixed-line and 5 million mobile
services.

As per March 31, 2019, Liberty Global is the world’s largest international TV and broadband company, with operations in 10 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC.

The company invests in the infrastructure and digital platforms that empower its customers to make the most of the video, internet and communications revolution.

Its scale and commitment to innovation enable it to develop market-leading products delivered through next-generation
networks that connect 21 million customers subscribing to 45 million TV, broadband internet and telephony services. The company also serve 6 million mobile subscribers and offer WiFi service through 12 million access points across our footprint.

In addition, Liberty Global owns 50% of VodafoneZiggo, a joint venture in the Netherlands with 4 million customers subscribing to 10 million fixed-line and 5 million mobile services, as well as significant investments in ITV, All3Media, ITI Neovision.