Liberty Global: High Yield, Questionable Value

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About: Liberty Global Plc (LBTYA), Includes: CTL, VOD
by: Stone Fox Capital
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Stone Fox Capital
Long/short equity, growth at reasonable price, research analyst, Deep Value
Summary

Liberty Global spent an incredible $2.7 billion on share buybacks via a modified Dutch auction at $27 per share.

The company has seen the net payout yield soar to over 26% as the stock is down 15%.

The converged European communications company has limited growth and a complex business model to support owning the stock here.

When a stock loses over 15% after a major stock buyback, the related stock catches my attention. Such a stock is Liberty Global Plc (LBTYA) trading near multi-year lows. The company is a