Liberty Global buys £1.2 billion stake in Vodafone

By Tom Kilkelly

16 February 2023

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Liberty Global has bought close to a five per cent share in fellow telecommunications company Vodafone.

The US based Liberty, which also owns UK based Virgin Media O2, bought £1.2 billion worth of shares in Vodafone. The purchase comes amidst predictions that Vodafone’s financial position will improve this year.

Chief Executive of Liberty Mike Fries said: “We believe, like many others, that Vodafone’s current share price does not reflect the underlying long-term value of their operating businesses, or their announced consolidation and infrastructure opportunities.

‘’Liberty is not looking for a seat on Vodafone’s board, this is an opportunistic and financial investment with some interesting catalysts for value creation.’’

Vodafone is currently in talks with Three owner CK Hutchinson Holdings over a proposed merger. If the deal goes through then Vodafone will become the majority stakeholder in the UK’s largest mobile operator.

A number of investors have bought stakes in Vodafone over the past year including a two and half per cent share bought by french billionaire Xavier Niel. Vodafone has also attracted investors from the UAE including telecoms group e& who bought a 13 per cent share in 2022.

Read more – Shariah-compatible acquisition of Vodafone’s HQ supported by Foot Anstey’s Islamic Finance team

By Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.