Liberty Global Acquires 5% Stake In Vodafone For £225M - Liberty Global (NASDAQ:LBTYA), Vodafone Group (N

Liberty Global Plc (NASDAQ:LBTYA) acquired 1.335 billion shares in Vodafone Group Plc (NASDAQ: VOD), representing a 4.92% stake via nonrecourse financing, requiring equity funding from Liberty Global of £225 million.
Vodafone announced the stake acquisition on Monday.
Mike Fries, CEO of Liberty Global, commented, "We believe, like many others, that Vodafone's current share price does not reflect the underlying long-term value of their operating businesses or their announced consolidation and infrastructure opportunities."
Vodafone CEO Nick Read stepped down at the end of 2022 following a year when the telecommunications company's share price sank.
Read failed to halt a years-long slide in the telecommunication giant's share price, and mergers with major rivals did not materialize.
CFO Margherita Della Valle became interim CEO in addition to her current role.
Vodafone reported first-half FY23 revenue growth of 2% year-on-year to €22.93 billion, driven by service revenue growth and higher equipment sales.
A decline in Germany and Italy impacted group service revenue trends, and Spain, offset by an acceleration in the U.K. and continued good growth in Other Europe and Africa.
Liberty Global held $4 billion in cash and equivalents as of September 30.
Price Action: VOD shares traded higher by 2.48% at $11.97 premarket on the last check Tuesday.

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