Liberty: ‘Deal proceeds to shareholders’
November 19, 2018
Liberty Global is signalling the proceeds of the sale of its German and CEE businesses to Vodafone will be used for share buybacks and has no plans for more big deals.
Charlie Bracken, EVP and CFO, told the Morgan Stanley European Media & Technology conference that the cash from the sale could be used to pay down debt, buy back stock or make acquisitions but the emphasis was on the first two as he claimed Liberty is “strategically complete.”
“We’re not desperate, that’s really important,” Bracken said. “It’s not like we have to do a deal on any terms. We’re ready to stand alone if we have to, and can stand alone.”