Liberty Global Vodafone deal completed

Wednesday, July 31st, 2019 
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Liberty Global Completes the Sale of Its Operations in Germany, Hungary, Romania and the Czech Republic to Vodafone

DENVER, Colorado — Liberty Global plc (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) today announced that it has completed the sale of its operations in Germany, Hungary, Romania and the Czech Republic to Vodafone Group plc (“Vodafone”) for approximately €19.0 billion ($21.3 billion) on a U.S. GAAP basis. The purchase price represents a multiple for all four businesses combined of 11.5x adjusted Segment OCF, or approximately 24.0x operating free cash flow (“OFCF”), for 2017 (the full year prior to announcement).

The net cash proceeds were approximately €10.1 billion ($11.3 billion)1.

We have hedged the foreign currency risk associated with the net proceeds through the use of various derivative instruments, which had the effect of converting the majority of the euro denominated proceeds into U.S. dollars at an average USD/EUR exchange rate of 1.12.

Links: Liberty Global; Vodafone