Liberty Global to Buy Vodafone's Stake in Dutch JV for $1.2 Billion

By Najat Kantouar

Liberty Global agreed to acquire Vodafone's 50% stake in its Dutch joint venture VodafoneZiggo for 1.0 billion euros ($1.19 billion) in cash, along with a 10% shareholding in a newly formed Benelux entity, Ziggo Group.

The multinational telecommunications company said Wednesday that Ziggo Group will hold the entire ownership of both VodafoneZiggo and Liberty Global's Belgian subsidiary, Telenet Group Holding. Both VodafoneZiggo and Telenet will continue to operate under their current brands and credit silos, it said.

The deal will allow Liberty Global to unlock the value of its Benelux operations as it plans to spin off its 90% stake in Ziggo Group to existing shareholders and list the group on Euronext in Amsterdam in 2027, it said. If the spinoff doesn't occur within 18 months of completion, Vodafone will have the option to sell its 10% stake in Ziggo Group to a third party, Vodafone said.

Both companies have also agreed that Vodafone will continue to provide certain services to VodafoneZiggo, including brand licensing, with expected charges of 625 million euros over the next 10 years, Vodafone said.

"By combining these assets, we are creating a regional powerhouse comprised of two converged national FMC champions operating in rational markets - an attractive platform with strong prospects for sustained free‑cash‑flow generation," Liberty Chief Executive Mike Fries said.

The transaction remains subject to regulatory approvals and is expected to close in the second half of 2026.

Write to Najat Kantouar at najat.kantouar@wsj.com

(END) Dow Jones Newswires

February 18, 2026 09:22 ET (14:22 GMT)