Liberty Global Stock Jumps 16.8% on €1B VodafoneZiggo Deal and £2B Fiber Purchase
Liberty Global climbed to a 52-week high after announcing a €1 billion purchase of Vodafone’s 50% stake in VodafoneZiggo and a 10% interest in the newly formed Ziggo Group with plans for an Amsterdam listing next year. The stock gained 16.76% after unveiling a £2 billion joint-venture acquisition of Substantial Group fibre assets.
1. Stock Surges to 52-Week High
Liberty Global shares rose 16.76% to close the session at a new 52-week high, peaking intraday at $13.52. Investor enthusiasm was driven by the announcement of two major acquisitions.
2. €1 Billion VodafoneZiggo Stake Acquisition
Liberty Global will acquire Vodafone Group’s 50% stake in VodafoneZiggo for €1 billion and receive a 10% share in Ziggo Group, which will hold its Netherlands and Belgian cable assets. The transaction sets the stage for an Amsterdam IPO next year and a spin-off of Liberty Global’s 90% holding to shareholders.
3. £2 Billion Substantial Group Fibre Purchase
Through its Nexfibre joint venture with InfraVia and Telefonica, Liberty Global will pay £2 billion to acquire Substantial Group, the UK’s second-largest alternative fibre provider. Substantial Group is developing 3.4 million fibre premises, expanding the JV’s network reach in Europe.