CEO Mike Fries of Liberty announced the plans during the presentation of the quarterly figures of his company. According to him, there is a big difference between how investors Liberty appreciate on the stock exchange and what the individual parts are worth added. By cutting off parts of the group, as happened with the Swiss Sunrise, Liberty hopes to better unlock that value for its shareholders. “We are working hard to plans to separate the remaining business units from Liberty Global,” said Fries. Whether that happens through sales, exhibitions or other deals, leaves the company in the middle.
Ziggo already carried out inflation correction, but becomes even more expensive for some customers: more than 10 percent on top
VodafoneZiggo is not going well in the meantime. In the second quarter, sales fell by 2.4 percent to 990 million euros. The number of broadband customers decreased for the umpteenth quarter in a row, although the customer loss seems to be flattening. The company tries to turn the tide with a new strategy, including faster networks, higher discounts and a collaboration with Delta Fiber to be able to connect 600,000 extra households.
Solid measures
The restructuring at Liberty Global is accompanied by solid measures. According to the Financial Times, a large part of the staff is fired and Liberty is even considering selling one of his private jets. Earlier, the company already sold its interest of 5% in Vodafone Group.
Ziggo closes large fiber optic and will soon be available in these regions
Liberty is active in several countries, with interests in Virgin Media O2 (United Kingdom) and Telenet, among others. VodafoneZiggo is a joint venture from Liberty and Vodafone Group. Both parties have 50% of the shares. A possible sale or IPO therefore requires the consent of both parties. Whether conversations are already running about this is unknown. It is clear that Liberty is preparing for large strategic choices.