Cable Media - March 2018 20_CABLE MEDIA 2018

Cable Media EUROMEDIA V MARCH 2018 Vodafone confirms Liberty Global talks odafone has confirmed is back at the negotiating table in early stage discussions with Liberty Global regarding the potential acquisition of certain overlapping continental European assets owned by Liberty Global. The global mobile operator, ISP and cabler said there was no certainty that any transaction would be agreed, nor as to the terms, timing or form. But it did confirm that it was not in discussion with Liberty Global regarding a full merger. The pair had previously held inconclusive talks in 2015 regarding a possible exchange of selected assets and are also 50:50 joint venture partners in VodafoneZiggo Group Holding in the Netherlands, which combines Ziggo’s fibre-rich broadband network with Vodafone’s mobile operation to create a stronger converged competitor to KPN in the Dutch market. Confirmation of the talks follows Liberty Global’s December 2017 agreement to sell its Austrian operations, UPC Austria, to Deutsche Telekom unit T-Mobile Austria. It is understood the talks concern assets in markets where the firms overlap, including Germany, Czech Republic, and Hungary. Speaking on Liberty Global’s Q4 2017 Earnings Call, CEO Mike Fries did not comment specifically on press speculation and announcements about what the operator may or may not do going forward in Europe, he said he wanted to make one thing clear. “We are not ‘dismantling’ our European business as one paper noted; quite the contrary,” he asserted. “In today’s competitive world, scale matters more than ever and we are committed to the core markets we’re in, where we see a pathway to becoming a national champion. Now consistent with this strategy we have a pretty good track record of accretively rebalancing our business from time-to-time. Those who have been investors would know that and that allows us to focus on what we do best; innovate, invest, compete and build scale and grow. And the sale of Austria UPC Austria is really just the latest example of that,” he suggested. According to Fries, the company remained focused on three key strategic goals. “First, driving national scale to both smart rebalancing and footprint expansion. Second, investing in profitable customer growth through network and product innovation. And then third, optimising our levered equity returns to the benefit of shareholders, that’s a pretty strong combination in our view.” Published by Advanced Television Limited Unit N202 Vox Studios 1-45 Durham Street London SE11 5JH, Tel: +44 (0)20 3567 1444 Can You See Me Now? The Ver ification E x perts FTTx Transport CaTV Fiber SAN Wireless Carrier Ethernet Broadband “We’re Your Network’s Best Friend” W i t h Ve E X ADVANCED TELEVISION ® Test S o l u t i o n s Yo u C a n ! Cable Media 1