Liberty Global, Inc. (LBTYB) - NASDAQ
  • Tue, Mar. 1, 4:58 PM
    • Hutchison (OTCPK:HUWHY) is headed to a closed-door meeting with EU regulators to address objections to its £10.3B deal to buy out rival telecom O2 (TEF +4.3%), Reuters reports.
    • The company will meet with the European Commission on March 7, along with rivals Sky (OTCQX:SKYAY +2.4%), Virgin Media (LBTYA +2.8%), TalkTalk (OTC:TKTCY), Vodafone (VOD +3.1%) and BT Group (BT +3.4%). Iliad (OTCPK:ILIAY +2.5%), the small provider owned by French billionaire Xavier Niel, could also take part.
    • The long-in-the-works deal has generated plenty of heat, as the combination of Hutchison's Three UK (the country's No. 4 wireless provider) with Telefonica's O2 (the No. 2 provider) would create the country's largest, reducing the market to three major competitors.
    • When the EC opened a full probe into the deal in October, the move suggested that heavy concessions were likely on the way to make the deal happen -- and they may include creating a smaller competitor. (TalkTalk has said it would love to help.)
    • The UK tried to take over the probe, but the EC rejected that request and kept control of the deal investigation in early December.
    • After hours: TEF -4.2%; LBTYA, VOD, BT flat.
    • Previously: Europe rejects UK's effort to examine Three's O2 buyout (Dec. 04 2015)
    • Previously: Europe opens full probe into Telefonica-Hutchison UK mobile merger (Oct. 30 2015)
    | Tue, Mar. 1, 4:58 PM
  • Tue, Feb. 2, 9:49 AM
    • Vodafone (VOD -2%) and Liberty Global (LBTYA -0.5%) are back and talking about possible asset swaps again, after talks about trades in Europe (and maybe a merger?) fell apart last year, Bloomberg reports.
    • Sources said the talks restarted since the beginning of 2016 and could include asset swaps and co-investments in "several" European countries.
    • Again, though, talks are likely to center on the Netherlands (where Liberty wants to grow) and the UK and Germany, the largest markets for the two.
    • After gaining earlier in London, shares are down 1.6% there and ADRs are off 2% on a day where the broader U.S. market is off to a rough start.
    | Tue, Feb. 2, 9:49 AM | 2 Comments
  • Wed, Jan. 20, 11:36 AM
    • The EU is set to approve the €1.3B takeover of KPN's (OTCPK:KKPNY -2.2%) Belgian telecom unit by Liberty Global (LBTYA -2.8%), after some divestments to clear the deal, Reuters reports.
    • The approval would mean the first telecom merger OK'd by Margrethe Vestager, the European Competition Commissioner, since the EC squashed TeliaSonera and Telenor's plan to merge their Danish units.
    • Liberty's Telenet unit has been pursuing KPN's Base over the past year. The combination would be slightly behind market leader Proximus and comparable in size to Mobistar (controlled by Orange).
    • To facilitate the deal, Telenet will sell all the customers from Base's JIM Mobile brand to rival Medialaan, along with its 50% stake in another brand (Mobile Viking) -- with the longer-term picture showing Medialaan as an MVNO on the Base network.
    • Previously: Liberty Global unit selling customers to pursue OK for Belgian takeover (Nov. 20 2015)
    • Previously: EU regulators extend probe into Liberty Global-KPN Belgian deal (Nov. 03 2015)
    | Wed, Jan. 20, 11:36 AM
  • Fri, Jan. 15, 7:18 PM
    • Telefonica (TEF -3.5%) is expressing interest in buying Latin American assets from AT&T (T -0.9%) that could come to $10B in value, Reuters reports.
    • AT&T acquired the pay TV assets in its acquisition of DirecTV last year, and CEO Randall Stephenson said in December that the company would consider selling them but was in "no rush" and would be patient.
    • A source told Reuters that other parties were interested in specific country assets -- AT&T acquired services in Brazil, Colombia, Venezuela and Argentina among other countries -- so AT&T could run multiple sale processes and deal with a company like Liberty Global (LBTYA -4.7%).
    • Meanwhile, Telefonica has been making portfolio changes but against some €50B in debt (about $54B). It's looking to sell Spanish infrastructure and agreed to sell its O2 business in the UK to CK Hutchison holdings for $15B.
    | Fri, Jan. 15, 7:18 PM | 4 Comments
  • Mon, Jan. 11, 11:23 AM
    • Liberty Global (NASDAQ:LBTYA) is off 5.2% and is tagging a 52-week low following a Morgan Stanley downgrade.
    • The firm lowered its rating on shares to Equal Weight from Overweight and slashed its price target to $43, from $56 -- about 12.6% upside from yesterday's closing price of $38.20.
    • Shares are now over 37% below 52-week highs set in the summer.
    • Previously: Vodafone, Liberty Global up amid reports that deal talks are back on (Dec. 31 2015)
    | Mon, Jan. 11, 11:23 AM
  • Dec. 31, 2015, 9:41 AM
    • Vodafone (NASDAQ:VOD) is up 1.5% in early going, and Liberty Global (NASDAQ:LBTYA) up 2.8%, after the Daily Mail covered chatter about a large tie-up to come early in the new year.
    • "Apparently corporate financiers have been working long hours over the festive period" on a potential £140B merger between the two, Geoff Foster writes -- though a much discussed asset swap is still more likely, and all talks fizzled out a few months back.
    • Dealers are saying that Liberty's John Malone is pursuing new talks and the companies are getting favorable nods from major investors for a friendly deal, Foster says.
    • Previous deal coverage
    | Dec. 31, 2015, 9:41 AM | 3 Comments
  • Nov. 16, 2015, 2:19 PM
    • Liberty Global (LBTYA -1.7%) agrees to acquire Caribbean cable operator Cable & Wireless Communications (OTCPK:CWIXF +26.8%) in a cash and stock deal valued at $5.3B, extending John Malone’s European cable empire deeper into Latin America.
    • The stock offer is valued at 78.04 pence/share, a 6% premium to Cable & Wireless's Monday closing price of 73.54 pence in London; including a special dividend to be paid when the deal closes, total consideration comes to 81.04 pence/share, which Liberty Global says represents a 40% premium to Cable & Wireless' closing share price on Oct. 21, the day reports stated the companies were in talks.
    • The purchase would give Malone a critical mass in Latin America, where he created the LiLAC (LILAK +2.2%) tracking stock in July for Liberty Global’s assets in Chile and Puerto Rico.
    | Nov. 16, 2015, 2:19 PM
  • Nov. 3, 2015, 11:02 AM
    | Nov. 3, 2015, 11:02 AM
  • Oct. 28, 2015, 10:23 AM
    | Oct. 28, 2015, 10:23 AM
  • Oct. 5, 2015, 1:53 PM
    • Europe's antitrust regulators are taking a closer look at a U.S.-initiated telecom deal, launching a full-scale probe into Liberty Global's (LBTYA +1.4%) bid for Belgium's Base (OTCPK:KKPNY +2.2%) over worries about price hikes.
    • Last month, Liberty was offering up concessions to the European Commission (now tougher than before) in order to seal a $1.5B deal for the Royal KPN operator. The EC had set a decision deadline for today.
    • Now the EC says its early review suggests the deal may reduce competition in Belgium and cut the incentives for Base to offer rivals network access.
    • A final decision on the deal is now due Feb. 18 (and may require more from Liberty to get it done).
    | Oct. 5, 2015, 1:53 PM
  • Oct. 2, 2015, 9:46 AM
    • Top UK cableco Virgin Media (LBTYA -1.9%) has launched its "Vivid" fiber-based broadband brand for 100 Mbps-plus speeds, offering its existing customers an upgrade to higher service tiers.
    • Customers can go from existing tiers of 50 Mbps, 100 Mbps and 152 Mbps to new tiers of 70 Mbps, Vivid 150 Mbps and Vivid 200 Mbps, and it's added a Vivid 100 Mbps tier. Vivid 200 is selling unbundled for £42.75/month ($64.79/month) with a 12-month contract, and Vivid 100 for £35.25/month ($53.42/month) for the same-length contract.
    • The upgrades will be available to 90% of customers by the end of the year, Virgin Media says.
    • Liberty Global is preparing to run field trials of DOCSIS 3.1 for early 2016 in some markets.
    | Oct. 2, 2015, 9:46 AM
  • Sep. 28, 2015, 9:39 AM
    • Vodafone (VOD -3.1%) and Liberty Global (LBTYA -3.7%) were among early premarket sliders in telecom today after the two broke off discussions over swapping European assets.
    • The cost of insuring Vodafone's debt dropped the most in nearly four months, and bonds of Liberty Global's units fell to their own records. Virgin Media (a likely Vodafone target) saw its January 2025 bonds slip to 92.8c/euro, lowest since issuance, while Germany's Unitymedia bonds fell 5.1 cents to a record low 84.4 cents.
    • Barclays reiterated its Overweight rating on the shares with a 250-pence price target. Shares are down 3.7% in London to 209.7p, implying a 19% upside in Barclays' target.
    • Previously: Vodafone ends talks with Liberty Global over asset swaps (Sep. 28 2015)
    | Sep. 28, 2015, 9:39 AM
  • Sep. 15, 2015, 9:32 AM
    • Vodafone (NASDAQ:VOD) is off 2.3% amid the newly tougher regulatory scheme that likely has put a kibosh on a merger with Liberty Global (NASDAQ:LBTYA).
    • A shift in approach to the hard line by European Commission competition chief Margrethe Vestager recently got TeliaSonera and Telenor to call off a merger of their Danish operators. And Liberty is offering up fresh concessions in an effort to seal its effort to buy KPN's Belgian operator Base.
    • John Malone is still looking for common ground with Vodafone over some kind of tie-up, he tells Bloomberg, as those talks seem to stall. Discussions about a full merger that initially moved stocks turned to talks over an asset swap in Europe, as Vodafone insists it's not talking about the full deal.
    • "Obviously there’s a price at which Liberty Global could be bought," Malone said. "I don’t believe that that’s likely for the other side to get there -- an outright purchase of the whole company. Other than that, it’s a question of could you figure out some way to live together."
    • Vodafone chief Vittorio Colao should "retire" now that the merger talks have fallen apart, says telecom analyst Neil Campling of Aviate Global. Asset swaps seem unlikely in key markets the UK and Germany, he says. “While we can find reasons to invest in Liberty Global on a standalone basis, the same cannot be said for Vodafone," he says. "What's next? Vittorio, surely, will retire and head for the sunshine/ski slope. He should.”
    • Meanwhile, Vodafone India has begun talks with IBM to renew a 660B-rupee ($1B) outsourcing contract that expires in June. Other vendors, including Wipro, Tata Consultancy, Infosys and Tech Mahindra, could push for the deal.
    | Sep. 15, 2015, 9:32 AM | 1 Comment
  • Jul. 31, 2015, 11:34 AM
    • Liberty Global (LBTYA +0.7%) has boosted its stake in Britain's biggest free-to-air broadcaster, buying 138.7M shares of ITV (OTCPK:ITVPY +3.7%) to increase its ownership to 9.9%.
    • Liberty assures regulators it doesn't have plans to take over ITV. Last year, though, when it bought 6.4% of the company, it said it didn't intend to increase that stake.
    • “Given ITV's operating and stock price performance, we were able to increase our stake to 9.9% with no incremental investment by hedging our existing equity position,” says Liberty Global CEO Mike Fries.
    • ITV shares closed up 3.2% in London trading.
    • Previously: Financial Times: Liberty Global discussing purchase of Ireland's TV3 (Jun. 23 2015)
    | Jul. 31, 2015, 11:34 AM
  • Jul. 16, 2015, 10:22 AM
    • Liberty Global (NASDAQ:LBTYA) is up 1.4% as JPMorgan restarts coverage of the stock at an Overweight rating.
    • The firm set a price target of $55; shares closed yesterday at $51.74.
    • Goldman Sachs has added the company to its Conviction Buy list while it bumped down possible asset-swap/merger partner Vodafone.
    • The stock's now up 7.1% over the past five days; YTD it's up just 4.5%.
    | Jul. 16, 2015, 10:22 AM
  • Jul. 15, 2015, 10:12 AM
    • Vodafone (NASDAQ:VOD) is 1.1% lower as Goldman Sachs removes it from its Pan-Europe Buy List, downgrading the stock to Neutral from Buy.
    • The firm has a price target of 250 pence, down from 275 pence; shares are trading down 1% in London at 235.55 pence.
    • Amid recent talk about an asset swap with Liberty Global (LBTYA +0.5%), Goldman's Tim Boddy sees the risk/reward profile as "more binary" with Vodafone still set to benefit from "'double' consolidation of both mobile and fixed-mobile operators ... We see attractive operational gearing to this growth recovery given its low margins."
    • M&A is still a very valid option and if management reconsiders its structure, "we believe a number of other potential acquirers could take interest in its remaining assets," he says.
    | Jul. 15, 2015, 10:12 AM | 4 Comments
Company Description
Liberty Global Plc is an international cable company that provides cable television and internet services. It connects people to the digital world and enables them to discover and experience its endless possibilities. The company's television, broadband internet, and telephony services are... More
Sector: Services
Industry: CATV Systems
Country: United States