Vodafone shakes up TV and broadband in Europe with €19bn Liberty Global deal
London — Vodafone Group has agreed to buy German and east European units from Liberty Global in a €19bn deal that shakes up the region’s TV and broadband market and signals a retreat by US billionaire John Malone. Vodafone will buy Liberty Global’s Unitymedia, the second-largest cable network in Germany, as well as the Czech Republic, Hungary and Romania divisions of the central and eastern European brand UPC, Malone’s cable carrier said on Wednesday. The transaction expands Vodafone’s cable footprint in a challenge to Germany’s incumbent operator, Deutsche Telekom, giving the phone company more reach and scale to bundle internet, phone and TV services. The tie-up follows years of on-and-off talks about asset swaps and mergers, which had stalled over disagreements about valuations and debt. "The combination of Liberty Global and Vodafone’s businesses will transform the competitive landscape and bring a new level of convergence to customers," Liberty Global CEO Mike Fries said in the...
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