Liberty Global has agreed to sell its operations in Germany, Hungary, Romania and the Czech Republic to Vodafone for €19 billion ($22.7 billion) on a US GAAP basis, compared to €18.4 billion ($22 billion) on an EU-IFRS basis.
Vodafone’s CEO Vittorio Colao has strongly criticised the claims by Deutsche Telekom’s CEO Tim Höttges that its plans to buy assets from Liberty Global in Germany were “totally unacceptable” and should be blocked by regulators.
German telco Deutsche Telekom would oppose the sale of Liberty Global’s German cable subsidiary Unitymedia to Vodafone and calls for regulators to block any such deal.
The Supervisory Board of German telco Deutsche Telekom has extended CEO Timotheus Höttges’ contract for another five years.
Dr Dirk Wössner, previously responsible for consumer business at Rogers Communications in Canada, will join the management board of Deutsche Telekom on January 1, 2018.