Liberty Global Acquires Nearly 5% Stake In Vodafone Group

(RTTNews) - Liberty Global plc (LBTYA, LBTYB, LBTYK) Monday said it acquired 1,335 million shares in Vodafone Group PLC, which represents 4.92% of the outstanding share capital.

The deal was principally funded through an attractive non-recourse financing, requiring equity funding from Liberty Global of around £225 million.

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 at this level and Liberty Global does not intend to seek board representation at Vodafone.