Liberty Global completes sale of UPC Austria, plans proceeds for share buyback programme

News Broadband Austria 31 JUL 2018
Liberty Global completes sale of UPC Austria, plans proceeds for share buyback programme

Liberty Global has completed the previously announced sale of UPC Austria to T-Mobile Austria for an enterprise value of EUR 1.9 billion. The price is equal to nearly 11x UPC Austria’s 2017 adjusted operating cash flow. The proceeds, after taking into account the repayment of debt attributed to UPC Austria, will be approximately EUR 900 million. These will be used to increase Liberty Global's share repurchase programme by USD 500 million and to repay additional debt across select credit pools of Liberty Global.

The increase supplements the previously announced USD 2 billion share repurchase programme, which the company intends to complete by year-end. The incremental USD 500 million can be spent at any time over the next twelve months. 

Categories:

Fixed

Companies:

Liberty Global,  T-Mobile Austria,  UPC Austria

Countries:

Austria

Tags:

Corporate strategy, Financial funding, M&A buyouts & divestments

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