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Liberty takes 4.92% stake in Vodafone, says not considering takeover
The Fly

Liberty takes 4.92% stake in Vodafone, says not considering takeover

Liberty Global announced today that it has acquired 1.335M shares in Vodafone Group, representing 4.92% of the outstanding share capital . The transaction was principally funded through an "attractive non-recourse financing," requiring equity funding from Liberty Global of approximately GBP 225M, the company said in a statement. Mike Fries, CEO of Liberty Global, commented, "We believe, like many others, that Vodafone’s current share price does not reflect the underlying long-term value of their operating businesses, or their announced consolidation and infrastructure opportunities. We continue to remain disciplined about our capital and fully expect that the equity used to fund this investment will be replenished with the sale of certain non-core assets over time." No regulatory approvals are required for an investment and Liberty Global does not intend to seek board representation at Vodafone. Liberty Global confirms that it is not considering an offer for Vodafone.

Published first on TheFly

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