Liberty Global to Sell Eastern European DTH Operations
Liberty Global plc (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) today announced that it has reached an agreement to sell
its DTH satellite TV operations currently serving four Eastern European markets to M7 Group.
Liberty Global will sell its DTH operations for a total enterprise value of approximately €180 million ($205
million1) on a U.S. GAAP basis, subject to customary debt and working capital adjustments at completion. Closing of the
transaction is subject to regulatory approval, which is expected in the first half of 2019.
Currently the DTH business serves customers in Hungary under the brand UPC Direct, in the Czech Republic and Slovakia under the
brand freeSAT, and in Romania under the brand FocusSat.
The proceeds from the sale are expected to be used for general corporate purposes.
Merrill Lynch International (“BofA Merrill Lynch”), a subsidiary of Bank of America Corporation, is acting as financial advisor
to Liberty Global on the transaction.
FORWARD-LOOKING STATEMENTS AND DISCLAIMER
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding the anticipated closing of the sale of our DTH operations, the expected use of net proceeds
and other information and statements that are not historical fact. These forward-looking statements involve certain risks and
uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks
and uncertainties include the ability to obtain regulatory approval for the transaction, our and M7 Group’s ability to achieve
other customary closing conditions for the transaction, as well as other factors detailed from time to time in Liberty Global’s
filings with the Securities and Exchange Commission including our most recently filed Form 10-K and Forms 10-Q. These
forward-looking statements speak only as of the date of this release. Liberty Global expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in
Liberty Global’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement
is based.
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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1 Convenience translation based on USD/EUR spot rate of 1.14
Liberty Global plc
Investor Relations:
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Stefan Halters, +1 303 784 4528
Corporate Communications:
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Matt Beake, +44 20 8483 6428
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