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Vodafone targets European domination with £16bn deal for Liberty assets

Telegraph Reporters
Updated
Vodafone shop - AFP
Vodafone shop - AFP

Vodafone Group has agreed an €18.4bn (£16.1bn) deal to buy Liberty Global's operations in Germany, Czech Republic, Hungary and Romania.

Vodafone said adding Liberty's cable TV and broadband services to its mobile operations would create the first truly converged pan-European company able to take on former incumbents like Deutsche Telekom.

Vodafone chief executive Vittorio Colao said: "This transaction will create the first truly converged pan-European champion of competition.

"We are committed to accelerating and deepening investment in next generation mobile and fixed networks, building on Vodafone's track record of ensuring that customers benefit from the choice of a strong and sustainable challenger to dominant incumbent operators."

Vodafone expects the deal to close around the middle of 2019.

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