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Liberty Global targets acceleration in cash flow growth

2016-02-16 08:44:00| Telecompaper Headlines

(Telecompaper) Cable operator Liberty Global reported a strong finish to 2015, with net additions of 344,000 revenue-generating units in the fourth quarter. Revenues were up 4 percent and operating cash flow 6 percent higher on an organic basis in Q4, led by Virgin Media in the UK and Unitymedia in Germany. CEO Mike Fries said the company saw a stronger second half of 2015 than the first six months, and Liberty Global expects the growth to improve further in 2016. The growth will be driven by the 'Liberty 3.0' plan, to enhance revenue and operating cash flow by focusing on B2B, mobile, network expansion and cost controls over the next three years. The company expects to deliver 5-7 percent organic OCF growth in Europe in 2016, excluding the Dutch business Ziggo, which is being merged with Vodafone Netherlands, and the recently acquired Belgian mobile operator Base. Over the next three years, operating cash flow is expected to grow at an organic rate of 7-9 percent.

Tags: global growth cash flow

Vodafone, Liberty Global agree merger of Dutch activities

2016-02-16 08:11:00| Telecompaper Headlines

(Telecompaper) Vodafone and Liberty Global have reached an agreement on a 50-50 joint venture in the Netherlands. Vodafone will pay Liberty Global EUR 1 billion cash as part of the deal and contribute its Dutch mobile operator on a debt- and cash-free basis to the venture, alongside Liberty's cable operator Ziggo. Pending regulatory approval, the companies expect to close the deal by the end of 2016. The merger is expected to lead to synergies of EUR 3.5 billion, including EUR 280 million in annual cost savings from the fifth year of the merger. The joint venture will target a leverage of 4.5-5.0 times EBITDA, based on Ziggo's current EUR 7.3 billion in debt. The merger will create a completely integrated fixed and mobile player, competing alongside Dutch incumbent KPN.

Tags: global activities agree dutch