EU Clears €669 Million VodafoneZiggo Tower Sale, Clearing Path For Ziggo Group Listing
Liberty Global says the tower proceeds will go toward cutting debt at VodafoneZiggo before the planned mid-2027 Amsterdam listing.
The European Commission has cleared the sale of VodafoneZiggo's passive tower assets for total consideration of €669 million, Liberty Global said in a press release furnished with an 8-K on Wednesday. Buyers are DigitalBridge, TD Greystone Infrastructure and L&G.
What the release says
Liberty Global continues to anticipate closing the deal by year-end. The sale is part of a targeted €1.2-1.4 billion of non-core asset disposals meant to support the intended listing of Ziggo Group in Amsterdam in the middle of 2027, through a spin-off.
Proceeds are to support de-leveraging, meaning debt reduction, at VodafoneZiggo. Chairman and CEO Mike Fries said the money will be used for that purpose "alongside free cash flow generation ahead of the spin-off."
Fries called the clearance "swift" and "another important step towards the compelling listing of Ziggo Group next year."
Third-quarter operating claims
The release also carries preliminary, unaudited information on VodafoneZiggo's three months ended September 30, 2026. Fries said its "How we win plan" drove record commercial momentum in the quarter, with the best broadband net adds performance since 2019.
He also said VodafoneZiggo had overall revenue growth in the quarter. No figures were given for either claim.
Separately, VodafoneZiggo launched internet speeds of up to 8Gbps in the Netherlands this week. Fries said the DOCSIS 4 network upgrade behind it was completed in a record 18 months and avoided the need for expensive digging.
Ziggo Group and what to watch
Ziggo Group brings together Liberty Global's interests in VodafoneZiggo and Telenet, with 13 million customers and €6.6 billion in revenue, the release says. It is preparing for an intended listing on Euronext Amsterdam in mid-2027.
The release lists risks to the transaction, including shareholder approval for certain aspects and the Liberty Global board's discretion not to complete it for any reason.
Liberty Global will release full third-quarter results on the morning of Tuesday, November 3, with an investor call at 9:00 a.m. ET.
The next dated checkpoint is Tuesday, November 3, when full third-quarter results and the call are due.
Sources
- 8-K Filing — Liberty Global Ltd. (LBTYA) — SEC EDGAR
- Exhibit ex991-libertyglobalannounc.htm — Liberty Global Ltd. 8-K exhibit — SEC EDGAR
