Liberty Global Completes Sale of UPC Poland to Iliad’s Polish Mobile Subsidiary Play
April 01 2022 - 8:48AM
Business Wire
Liberty Global plc (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and
LBTYK) today announced that it has completed the previously
announced sale of UPC Poland to iliad S.A.’s Polish mobile
subsidiary Play for an enterprise value of PLN 7.0 billion ($1.7
billioni).
Net proceeds from the transaction, after taking into account the
repayment of debt, will be approximately $600 million. Proceeds
from the sale are expected to be used for general corporate
purposes, which may include reinvestment into Liberty Global’s
business and support for the company’s significant, multi-year
share buyback commitment.
In conjunction with the transaction, Liberty Global has agreed
to provide Play with certain transitional services for a period of
up to four years. These services principally will be comprised of
network and information technology-related functions.
ABOUT LIBERTY GLOBAL
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is a world
leader in converged broadband, video and mobile communications
services. We deliver next-generation products through advanced
fiber and 5G networks that connect over 85 million subscribers
across Europe and the United Kingdom. Our businesses operate under
some of the best-known consumer brands, including Virgin Media-O2
in the UK, VodafoneZiggo in the Netherlands, Telenet in Belgium,
Sunrise UPC in Switzerland, Virgin Media in Ireland and UPC in
Eastern Europe. Through our substantial scale and commitment to
innovation, we are building Tomorrow’s Connections Today, investing
in the infrastructure and platforms that empower our customers to
make the most of the digital revolution, while deploying the
advanced technologies that nations and economies need to
thrive.
Our consolidated businesses generate annual revenue of more than
$7.5 billion, while the VodafoneZiggo JV and the VMO2 JV generate
combined annual revenue of more than $19 billion. *
Liberty Global Ventures, our global investment arm, has a
portfolio of more than 75 companies and funds across content,
technology and infrastructure, including strategic stakes in
companies like ITV, Univision, Plume, Lionsgate and the Formula E
racing series.
* Revenue figures above are provided based on full year 2021
Liberty Global consolidated results (excluding revenue from the UK
JV Entities) and the combined as reported full year 2021 results
for the VodafoneZiggo JV and estimated US GAAP full year 2021
results for the VMO2 JV. For more information, please visit
www.libertyglobal.com.
i Convenience translation based on spot FX on March 31 2022
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Investor Relations Michael Bishop +44 20 8483 6246
Corporate Communications Matt Beake +44 20 8483 6428
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