Liberty Global agreed on 18 February 2026 to buy Vodafone's 50% stake in VodafoneZiggo, the Dutch cable and mobile operator, for €1.0bn in cash and a 10% stake in a new holding company, Ziggo Group.
Why Liberty Global Ltd. is buying VodafoneZiggo (Vodafone's 50% stake)
Liberty Global said combining VodafoneZiggo with Telenet would create a Benelux operator made up of two converged national champions, and put the net present value of synergies at €1bn. Vodafone chief executive Margherita Della Valle called the price an attractive valuation.
“This transaction marks a significant milestone in our decades-long commitment to the Benelux region”
Deal terms and financing
Ziggo Group will own 100% of VodafoneZiggo and Telenet, with Liberty Global holding about 90%. Vodafone can sell its 10% to a third party if the planned spin-off does not happen within 18 months of completion. Both operators keep their brands, credit silos and management teams.
Regulatory approvals and timing
The deal needed regulatory clearance. Liberty Global completed the purchase in early August 2026, Telco Magazine reported, and Ziggo Group began operating in September.
Market context
Ziggo Group serves about 13 million customers with revenue of roughly €6.6bn. It plans €1.2bn to €1.4bn of asset sales, including Telenet's stake in Wyre and VodafoneZiggo's towers, and Liberty Global intends to spin off its 90% through a 2027 Amsterdam listing. For Vodafone, the sale follows its exits from Spain and Italy.
