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 LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN than the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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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.
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Historical Financials (EUR)
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REFERENCES
Valuation range: EV 3b - 100b EUR
EBITDA range: 1b - 3b EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).