Liberty Global Statement on European Commission’s Phase 2 Announcement
December 11 2018 - 2:15PM
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.
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