DENVER, COLORADO: Liberty Global plc has acquired 1.335 million shares in Vodafone Group representing 4.92% of the outstanding share capital.
The transaction was principally funded through an attractive non-recourse financing, requiring equity funding from Liberty Global of approximately £225 million.
Mike 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.”
No regulatory approvals are required for an investment at this level and Liberty Global does not intend to seek board representation at Vodafone.
The 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.
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is a world leader in converged broadband, video and mobile communications services.
The 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.
Liberty Global has an investment portfolio consisting 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.