Liberty Global Plc - LBTYA STOCK NEWS

The UK’s Competition & Markets Authority (CMA) has approved the joint venture between Liberty Global and Telefonica to merge Virgin Media and O2. This deal, now expected to close by June 1, 2021, combines the UK’s fastest broadband network and largest mobile operator. The joint venture aims to create a leading integrated communications provider with £11 billion in revenue and £6.2 billion in synergies post-integration. Lutz Schüler and Patricia Cobian have been appointed CEO and CFO respectively upon completion, marking a significant advancement in UK telecommunications.

Liberty Global (NASDAQ: LBTYA, LBTYB, LBTYK) will present at the J.P. Morgan European Technology, Media & Telecoms Conference on May 26, 2021, at 11:40 a.m. ET. The company plans to discuss its historical operating performance and future outlook. The presentation will be streamed live and archived on Liberty Global's website for about 30 days. Liberty Global operates in seven European countries and serves 49 million broadband, video, and telephony customers. The company invests in various media and entertainment sectors, enhancing its market presence.

Liberty Global (NASDAQ: LBTYA, LBTYB, LBTYK) advances its 10G connectivity efforts in Europe by partnering with Vecima Networks and Vector Technologies to roll out Remote PHY (R-PHY) technology. This collaboration aims to enhance network capacity and reduce latency for over 19 million homes already connected. The solution incorporates Vecima's Entra ERM112 Remote PHY Device into Vector's ACCERON node, facilitating a multi-vendor approach and accelerating deployment. Field trials are set for Autumn 2021, reinforcing Liberty Global's commitment to next-gen broadband.

Liberty Global plc reported Q1 2021 financial results with a 25.7% increase in revenue to $3,615.3 million, and a net earnings rise of 41.5% to $1,440.3 million. The EBITDA adjusted figure was $1,367.3 million, a decline of 1.7% YoY. The company added 38,000 new customer relationships, and broadband growth boosted customer net adds by 79,600. The FMC penetration rate improved to 29.3%. Cash provided by operating activities surged 82.6% to $821.2 million. The firm aims for $1.35 billion in adjusted free cash flow for the year, reflecting a 26% increase YoY.

Liberty Global will release its first quarter 2021 results on May 5, 2021, after Nasdaq market close. An Investor Call is scheduled for May 6, 2021, at 09:00 a.m. ET, where management will discuss results and may provide forward-looking information. Participants should dial in 15 minutes early. For further details, a summary investor presentation and a listen-only webcast will be available on the company's Investor Relations section. Liberty Global operates broadband and communications services across seven European countries, serving 49 million subscriptions.

Liberty Charge, a joint venture between Liberty Global and Zouk Capital, has successfully completed its first electric vehicle (EV) charging installation in Waltham Forest, London. This project involves deploying 20 charging points across 10 sites, with plans to expand to 50 sites. The initiative supports the UK’s goal of increasing EV charging points, as highlighted in a Policy Exchange report. Liberty Charge leverages Virgin Media's infrastructure to enhance EV adoption, aiming to address infrastructure challenges as the UK targets carbon neutrality by 2050.

Liberty Global and Telefonica plan to appoint Lutz Schüler as CEO and Patricia Cobian as CFO of their new joint venture combining Virgin Media and O2, pending UK Competition and Markets Authority approval. Schüler, with experience as CEO of Virgin Media since 2019, aims to drive growth in fixed and mobile sectors, while Cobian has served as CFO of O2 since 2016. The venture is expected to yield over £6 billion in synergies and create a communications provider with £11 billion in revenue, enhancing service for 46 million customers.

Liberty Global and Telefonica announced the appointment of Lutz Schüler as CEO and Patricia Cobian as CFO for their upcoming 50-50 joint venture merging Virgin Media and O2, pending CMA approval. Schüler, with a strong telecom background, aims to enhance services for over 46 million customers, leveraging synergies worth over £6 billion and projected revenues of £11 billion. Mark Evans, current CEO of O2, will stay until the merger concludes. This strategic move seeks to create a leading connectivity provider in the UK, uniting strong broadband and mobile capabilities.

Liberty Global (NASDAQ: LBTYA, LBTYB, LBTYK) has joined the European Green Digital Coalition, emphasizing its dedication to sustainability. This coalition, initiated by the EU, aims to leverage digital technologies for climate action and achieving UN Sustainable Development Goals. By signing the European Green Digital Declaration, Liberty Global commits to reducing greenhouse gas emissions by 2030 and achieving climate neutrality by 2040. They have also received recent accolades including a spot in the S&P Sustainability Yearbook and leadership status from CDP Global for climate initiatives.