VODAFONE ZIGGO acquired by LIBERTY GLOBAL
Context
Liberty Global is acquiring the remaining 50% stake in VodafoneZiggo from Vodafone Group Plc. This transaction was initiated to consolidate the target's ownership and facilitate its subsequent merger with a Belgian telecommunications subsidiary to form a unified Benelux entity. The process involves a cash payment combined with the issuance of a minority stake in the newly formed group to the seller. The strategy is centered on creating a scaled regional leader capable of generating significant financial and operational synergies. Following the consolidation, the new parent entity plans to spin-off shares to its existing shareholders and seek a public listing on the Amsterdam Stock Exchange in 2027. This move allows the seller to simplify its portfolio while retaining a participation in the future value creation of a larger entity. Additionally, a long-term service agreement was established to ensure operational continuity through brand licensing and support services for the next decade.
VODAFONE ZIGGO, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, a level twice as low as the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x).
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Target
VodafoneZiggo is a leading Dutch provider of converged fixed and mobile communication services. It provides high-speed internet, digital television, and mobile telephony to millions of residential and business customers across the Netherlands. The company operates a state-of-the-art fiber-coaxial cable network alongside a robust nationwide mobile network. By integrating mobile and fixed-line services, the organization offers seamless connectivity solutions and entertainment packages. It serves as a critical infrastructure player in the Dutch market, competing as a primary integrated operator. The group is currently undergoing a strategic transformation to merge with a major Belgian peer to form a scaled Benelux communications champion.
Ent. Value
€10–25bn
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
5x–12x
EV / EBIT
[members only]
Historical Financials (EUR)
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|---|---|---|---|---|
| 05/2026 | GCI | QUINTILLION | UNITED STATES | Infrastructures |
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| 10/2025 | VODAFONE GROUP | TELEKOM ROMÂNIA MOBILE | ROMANIA | Operators |
| 03/2025 | LATOUR CAPITAL | LYNXEO | FRANCE | Infrastructures |
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REFERENCES
Valuation range: EV €10–25bn
EBITDA range: €1–10bn
EV/EBITDA range: 5x - 12x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of VODAFONE ZIGGO by LIBERTY GLOBAL are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.