WASHINGTON (dpa-AFX) - Liberty Global plc (LBTYA, LBTYB and LBTYK) said that it has reached an agreement to sell its DTH satellite TV operations currently serving four Eastern European markets to M7 Group.
Liberty Global will sell its DTH operations for a total enterprise value of approximately 180 million euros or $205 million on a U.S. GAAP basis, subject to customary debt and working capital adjustments at completion.
Liberty said that it expects to use the proceeds from the sale for general corporate purposes.
Closing of the transaction is subject to regulatory approval, which is expected in the first half of 2019.
Currently the DTH business serves customers in Hungary under the brand UPC Direct, in the Czech Republic and Slovakia under the brand freeSAT, and in Romania under the brand FocusSat.
Copyright RTT News/dpa-AFX