Maurice Patrick's questions to Liberty Global Ltd (LBTYA) leadership • Q1 2024
Question
Maurice Patrick of Barclays asked about the U.K. broadband market's net add trajectory, its potential for growth, and the increasing impact of altnets on Virgin Media O2's subscriber base.
Answer
Lutz Schüler, CEO of VMO2, noted the market was weaker and acknowledged a greater impact from altnets using aggressive promotions. He expressed confidence that VMO2's own nexfibre expansion will drive more net adds as its sales efforts ramp up. Michael Fries, CEO of Liberty Global, added that while altnets are active, they are not achieving the high penetration levels needed to sustain their business models long-term. Both executives suggested overall market growth is limited.