There was a big telecommunications M&A over in Europe yesterday. After years of talking about it, Vodafone has entered into a definitive agreement to buy a pile of assets from Liberty Global for $22.7B.
The deal will see Vodafone acquire Liberty’s cable businesses and other operations in Germany, Hungary, Romania, and the Czech Republic. That will give them a whole bunch more European last mile access to go with the rest of the company’s sprawling global empire, with Liberty Global moving onward with its businesses in the UK, Ireland, Belgium, Switzerland, Poland, and Slovakia.
It will take a while to actually happen of course, with regulators getting at least a year to have their say. But the two don’t really overlap much competitively, so I doubt they will object in the end. The biggest long term change will probably be in Germany, where the combination may be better able to challenge the incumbent DT on some fronts.
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