Vodafone Group VOD sale of stake in VodafoneZiggo completes

Vodafone Group Plc has completed the sale of its 50% stake in VodafoneZiggo to Liberty Global for €1.0 billion in cash and a 10% stake in the newly formed Ziggo Group, which will own VodafoneZiggo and Telenet. The transaction, which was announced in February 2026 and subject to regulatory approvals, is now finalized in the second half of the year as expected.

The cash consideration values VodafoneZiggo at 7.1x EV / CY2025 Adjusted EBITDA and 14.2x EV / CY2025 OpFCF. Liberty Global plans to spin off its 90% stake in Ziggo Group for its shareholders and list the entity on Euronext in Amsterdam in 2027. Vodafone retains the option to sell its 10% stake in Ziggo Group to a third party if the spin-off does not occur within 18 months of the transaction’s completion.

Under the agreement, Vodafone will continue to provide services such as brand licensing to VodafoneZiggo, generating €625 million in revenue over the next 10 years. Margherita Della Valle, Chief Executive of Vodafone Group, noted that the transaction delivers €1 billion in cash and offers potential for further value creation through the 10% stake in Ziggo Group.

The deal reflects Vodafone’s strategic focus on optimizing its portfolio and unlocking value from its investments in the Benelux region.