Ulrich Rathe's questions to Liberty Global Ltd (LBTYA) leadership • Q1 2024
Question
Ulrich Rathe of Bernstein Societe Generale Group questioned the specific value creation levers of the planned U.K. NetCo and sought clarification on VodafoneZiggo's cash distribution outlook.
Answer
Michael Fries, CEO of Liberty Global, detailed that the U.K. NetCo creates value by attracting infrastructure capital, providing financial flexibility to accelerate fiber builds, and opening wholesale revenue opportunities. Regarding the Netherlands, Charles Bracken, CFO of Liberty Global, and Ritchy Drost, CFO of VodafoneZiggo, clarified that the 'up to $300 million' guidance is maintained to provide flexibility for potential non-recurring investments like spectrum auctions.