Liberty Global CEO Mike Fries has said the company is working to separate its remaining core operating units following the successful spin-off of Sunrise in November 2024.
While the number of its operations has reduced in recent years, Liberty still runs joint ventures with O2 in the UK and Vodafone in the Netherlands.
“The unique structure of our balance sheet and holdings provides us with the flexibility to pursue additional spin-offs, tracking stocks, IPOs and other transactions, in multiple combinations,” said Fries in a statement accompanying the company’s Q2 results.
Liberty believes the move will “unlock the conglomerate discount” in its stock.
Fries said the specific timing was yet to be determined but was looking to complete one or more in the next 12 months.
Currently, Liberty Telecom was looking to improve commercial momentum at VodafoneZiggo. Its facing continued competition from KPN, Delta and Odido who are offering cheap entry level packages in the Dutch market. Liberty says churn rates have improved and more commercial measures are planned for later in the year.
As reported earlier this week, Virgin Media O2 achieved adjusted EBITDA growth in the second quarter as it fights against competition in the UK market.
Virgin Media Ireland’s second quarter performance reflected heightened competition, resulting in lower revenue and Adjusted EBITDA. Despite this, progress continues towards strategic goals, including FTTH rollout, increased wholesale penetration, and advancing commercial activity in mobile.
In Belgium, Telenet recorded increases in broadband and postpaid subscribers in the second quarter, contributing to an improved outlook for the year.
Earlier this week it emerged Liberty had offered voluntary redundancy to approximately 800 of its 1,900 employees.
