VodafoneZiggo Receives EU Commission Clearance For Tower Sale

Tower-sale proceeds will support debt reduction at VodafoneZiggo ahead of Ziggo Group’s intended spin-off.

Rhea-AI Summary

Liberty Global (LBTYA) received EU Commission clearance for the €669 million sale of VodafoneZiggo’s passive tower assets to infrastructure investors.

The buyers are DigitalBridge, TD Greystone Infrastructure and L&G. Liberty Global continues to expect closing by year-end. Proceeds will support debt reduction at VodafoneZiggo. The sale forms part of targeted €1.2–1.4 billion non-core asset disposals supporting Ziggo Group’s intended Amsterdam listing in mid-2027 through a spin-off.

VodafoneZiggo reported overall revenue growth in the third quarter of 2026 and its best broadband net customer additions since 2019. Its network upgrade to DOCSIS 4 technology was completed in 18 months, with internet speeds of up to 8Gbps launching this week in the Netherlands. Liberty Global will release third-quarter 2026 results on November 3, 2026.

7 points · 1 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Tower-sale consideration of €669 million will support debt reduction at VodafoneZiggo.
• Moderate pointTower sale received EU Commission clearance, completing a regulatory milestone.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Non-core asset disposals target €1.2–1.4 billion to support Ziggo Group’s intended listing.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Ziggo Group’s intended Amsterdam listing through a spin-off is planned for mid-2027.
• Moderate pointVodafoneZiggo reported overall revenue growth during the third quarter of 2026.
• Moderate pointBroadband net customer additions in Q3 2026 were VodafoneZiggo’s best since 2019.
• Minor pointVodafoneZiggo completed its DOCSIS 4 network upgrade in 18 months.

Negative

• Moderate pointTower-sale closing remains pending; Liberty Global continues to expect completion by year-end.

Key Figures

Tower sale consideration: EUR669m Targeted non-core disposals: €1.2-1.4bn Expected deal closing: by year-end +1 more

Tower sale consideration

EUR669m

VodafoneZiggo passive tower assets

Targeted non-core disposals

€1.2-1.4bn

Asset disposals intended to support the Ziggo Group listing

Expected deal closing

by year-end

Liberty Global continues to anticipate closing

Intended listing

mid-2027

Ziggo Group listing in Amsterdam

Historical Context

1 past event · Latest: Sep 08

1 event

1. Sep 08

   Tower sale agreement

   24h Move

   +0.8%

   Agreed €669 million Dutch tower sale, with regulatory approval still outstanding.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

de-leveraging, free cash flow, docsis 4

3 terms

de-leveraging financial

"Proceeds from the tower sale are to be used to support de-leveraging at VodafoneZiggo."

De-leveraging is the process of a company or investor reducing the amount of borrowed money relative to their assets or income, usually by paying down debt, selling assets, or retaining earnings. It matters to investors because lower debt reduces the risk of bankruptcy, lowers interest costs, and can improve credit ratings, but it may also slow growth if funds that could be used for expansion are used to cut debt—think of trading speed for stability by shedding excess weight.

free cash flow financial

"proceeds will be used for de-leveraging at VodafoneZiggo alongside free cash flow generation"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

View in glossary

docsis 4 technical

"internet speeds of up to 8Gbps in The Netherlands following the network’s upgrade to DOCSIS 4 technology"

A cable-broadband specification developed by CableLabs that upgrades DOCSIS technology to support multi-gigabit speeds and lower latency on hybrid fiber–coax networks. DOCSIS 4.0 introduces two main modes — Full Duplex (FDX), which lets upstream and downstream signals share the same spectrum for near-symmetric speeds, and Extended Spectrum (ESD), which expands usable frequency range for much higher downstream capacity — and requires compatible upgrades at the cable operator’s headend/node and at customer modems. It is a technical standard, not a service guarantee: achieving the higher speeds depends on network changes (for example, node-splitting, upgraded amplifiers, and new modems) and operator deployment choices.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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DENVER and AMSTERDAM, Oct. 14, 2026 (GLOBE NEWSWIRE) -- Liberty Global (Nasdaq: LBTYA, LBTYB, LBTYK) welcomes EU commission clearance of its sale of VodafoneZiggo’s passive tower assets to DigitalBridge, TD Greystone Infrastructure and L&G.

Liberty Global continues to anticipate the deal closing [by year-end], with total consideration of EUR669m as part of the targeted €1.2-1.4bn of non-core asset disposals to support the intended listing of Ziggo Group in Amsterdam in the middle of 2027 pursuant to a spin-off transaction, as previously announced. Proceeds from the tower sale are to be used to support de-leveraging at VodafoneZiggo.

Mike Fries, Chairman and CEO of Liberty Global, said: "We welcome the swift EU Commission clearance regarding the sale of our Dutch towers which represents another important step towards the compelling listing of Ziggo Group next year. We can confirm that proceeds will be used for de-leveraging at VodafoneZiggo alongside free cash flow generation ahead of the spin-off.

“VodafoneZiggo’s ‘How we win plan’ has driven record commercial momentum during the third quarter of 2026, with the best broadband net adds performance since 2019. Furthermore, VodafoneZiggo had overall revenue growth during the third quarter of 2026, supported by strong value proposition for broadband customers.

“This is alongside the exciting launch this week of internet speeds of up to 8Gbps in The Netherlands following the network’s upgrade to DOCSIS 4 technology which was completed in a record 18 months. This innovative use of new technology has future proofed the local network without the need for expensive digging.”

Liberty Global will release its third quarter 2026 results on the morning of Tuesday, November 3, 2026. You are invited to join in its Investor Call, which will begin at 09:00 a.m. (Eastern Time). During the call, management will discuss the Liberty Global’s results and may provide other forward-looking information.

ABOUT LIBERTY GLOBAL

Liberty Global Ltd. (Nasdaq: LBTYA, LBTYB, LBTYK) delivers long-term shareholder value through the strategic management of two complementary platforms: Liberty Telecom and Liberty Growth.

Liberty Telecom is a world leader in converged broadband, video and mobile communications, providing approximately 80 million fixed and mobile connections across Europe through advanced fiber and 5G networks that empower customers and strengthen national economies. The business generates aggregate revenue of $22  billion, including approximately $13 billion from the nonconsolidated VMO2 joint venture and $9 billion* from consolidated operations.

Liberty Growth invests in scalable businesses across the technology, media, sports and infrastructure sectors, with a portfolio of roughly 70 companies and funds valued at $3.4 billion.**

Together, these platforms reflect Liberty Global’s focus on operating, enabling and investing in businesses with strong strategic fit and the potential to deliver sustainable long‑term returns.

*Includes 100% of the revenue of the VodafoneZiggo JV. Upon acquisition of Vodafone's 50% interest, Liberty Global began consolidating VodafoneZiggo in July 2026.
**As independently valued as of December 31, 2025.

For more information, please visit www.libertyglobal.com or contact:

ABOUT ZIGGO GROUP

Ziggo Group is a newly established Benelux champion in connectivity, entertainment and digital services, bringing together Liberty Global's interests in VodafoneZiggo and Telenet.

With 13 million customers and €6.6 billion in revenue, Ziggo Group combines strong national businesses in the Netherlands, Belgium and Luxembourg with greater scale at Group level.

The Group develops the shared strengths in technology, innovation and capital that multiply what each business can achieve on its own. This enables VodafoneZiggo and Telenet to invest more, move faster and grow in their own markets, where they remain fully responsible for their customers, people, culture and performance.

Ziggo Group is preparing for an intended listing on Euronext Amsterdam in mid-2027. Find out more at ziggogroup.com.

FORWARD LOOKING STATEMENT
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the combination of Liberty Global’s interests in VodafoneZiggo and Telenet into a new holding company to be named Ziggo Group, the potential listing of the Ziggo Group shares for trading (together, the “Transaction”), the performance of Ziggo Group following the Transaction, expectations regarding VodafoneZiggo’s operating and financial results, timing of the sale of VodafoneZiggo’s passive tower assets and other information and statements that are not historical fact. These forward-looking statements are subject to certain risks and uncertainties, some of which are beyond our control, that could cause actual results to differ materially from those expressed or implied by these statements. Such risks and uncertainties include the risk that we do not receive shareholder approval for certain aspects of the Transaction and/or related matters, our ability to satisfy the other conditions to the Transaction on the expected timeframe or at all, the approval of the shares of Ziggo Group for listing on the relevant stock exchange and the development of a trading market for them, the Liberty Global Board of Directors’ discretion to decide not to complete the Transaction for any reason, our ability to realize the expected benefits from the Transaction, unanticipated difficulties or costs in connection with the Transaction, Ziggo Group’s ability to successfully operate as an independent public company and maintain its relationships with material counterparties after the Transaction and other factors detailed from time to time in Liberty Global’s most recently filed Annual Report on Form 10-K and in Liberty Global’s other filings with the SEC, as it may be updated or supplemented from time to time by our quarterly reports and other subsequent filings.

These forward-looking statements speak only as of the date hereof. We expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. You are cautioned not to place undue reliance on any forward-looking statement.

For more information, please visit www.libertyglobal.com or contact:

Investor Relations                             
Michael Bishop +44 20 8483 6246
Lewis Chong +44 7927 583187

Corporate Communications
Pádraig McGarrigle   +44 7474 736967 

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the value of Liberty Global’s VodafoneZiggo tower sale, and who are the buyers?

The sale carries total consideration of €669 million, with DigitalBridge, TD Greystone Infrastructure and L&G as buyers. It covers VodafoneZiggo’s passive tower assets and has received EU Commission clearance.

When does Liberty Global expect the VodafoneZiggo tower sale to close?

Liberty Global continues to expect the transaction to close by year-end. Proceeds will support debt reduction at VodafoneZiggo ahead of Ziggo Group’s intended mid-2027 Amsterdam listing through a spin-off.