Liberty Global Statement on European Commission’s Phase 2 Announcement
December 11, 2018
DENVER–(BUSINESS WIRE)–Today, the European Commission announced that it is moving forward to a
Phase 2 review of Vodafone’s acquisition of Liberty Global’s business in
Germany, Hungary, Romania and the Czech Republic. With the expected
launch of this new phase, the European Commission is retaining
regulatory authority over the case and the transaction remains on track
for approval by mid-2019.
Mike Fries, Liberty Global’s CEO, stated, “This is welcome and expected
news from the European Commission. We always anticipated a second phase
review given the size and scope of the transaction, and it is clear that
the EU is retaining regulatory authority over the case. This provides us
with the appropriate forum to demonstrate the consumer benefits that
will be delivered by the creation of fully converged, fixed-mobile
operators in these four markets. We look forward to engaging with the
Commission and continue to expect approval mid-2019.”
ABOUT LIBERTY GLOBAL
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) 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. We invest in the infrastructure and digital platforms that
empower our customers to make the most of the video, internet and
communications revolution. Our substantial scale and commitment to
innovation enable us 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.
We 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, Casa Systems, LionsGate,
the Formula E racing series and several regional sports networks.
For more information, please visit www.libertyglobal.com.
Contacts
Liberty Global
Investor
Relations:
Matt Coates, +44 20 8483 6333
John Rea, +1 303
220 4238
Stefan Halters, +1 303 784 4528
or
Corporate
Communications:
Bill Myers, +1 303 220 6686
Matt Beake,
+44 20 8483 6428