Vodafone to Buy Some of Liberty Global's European Assets for $23 Billion

By Stu Woo

LONDON -- Britain's Vodafone Group PLC is close to announcing a $23 billion cash deal to buy operations in four European countries from John Malone's Liberty Global PLC, according to people familiar with the matter.

Liberty Global, which is based outside Denver and registered in London, is planning to sell its businesses in Germany, Hungary, Romania and the Czech Republic to Vodafone, the people said. Vodafone is the world's second-largest wireless carrier by subscribers.

The EUR19.2 billion deal would face a possibly lengthy European Union antitrust review, but if completed, would create one of the continent's biggest telecommunications operators, selling the industry's holy grail "quad-play" package: cable, internet, wireless and landline-phone service on a single bill.

The Financial Times reported earlier Tuesday the two companies were nearing a deal.

Write to Stu Woo at Stu.Woo@wsj.com

(END) Dow Jones Newswires

May 08, 2018 12:37 ET (16:37 GMT)

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