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Vodafone and Liberty: playing the long game

On 9 May 2018 Vodafone announced it was acquiring the cable operations of Liberty Global in Germany, the Czech Republic, Hungary and Romania for €18.4 billion. The transaction would increase Vodafone’s fixed line customer base by 9.6 million across its European footprint and grow the fixed line share of total revenue from 29% to 35% on a pro forma basis.

This is the largest piece of telecoms market consolidation in Europe since BT purchase of EE in January 2016, furthering the broad market shift towards a converged fixed-mobile model at the infrastructure and service level.

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