Liberty Global completes the sale of its Austrian operations to T-Mobile Austria
Liberty Global plc (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) today announced that it has completed the previously announced sale of UPC Austria to T-Mobile Austria for an enterprise value of €1.9 billion ($2.2 billion), equal to nearly 11x UPC Austria’s estimated 2017 adjusted3 segment operating cash flow. The proceeds, after taking into account the repayment of debt that we attribute to UPC Austria, will be approximately €900 million ($1.1 billion). These proceeds will be used to increase our share repurchase program by $500 million and to repay additional debt across select credit pools of Liberty Global.
