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Liberty Global sells Austrian business to Deutsche Telekom in $2.2B deal

Dec. 22, 2017 7:41 AM ETDeutsche Telekom AG (DTEGY) StockBy: Carl Surran, SA News Editor2 Comments
  • Deutsche Telekom (OTCQX:DTEGY) confirms an agreement to buy Liberty Global's (LBTYA) Austrian cable business for €1.9B ($2.2B) including debt, as it adds broadband services to countries where it only offers mobile operations.
  • Deutsche Telekom hopes the deal will enable it to challenge the dominance of Telekom Austria, which has ~1.5M fixed-line broadband subscribers vs. ~500K for Liberty Global's UPC Austria.
  • For Liberty, the sale is seen as part of efforts to reorganize its operations if it resumes merger negotiations with Vodafone (VOD).

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