Liberty selling off DBS ops in Eastern Europe

Liberty Global (NASDAQ:LBTYA) has reached an agreement to sell its direct broadcast satellite (DBS) TV operations currently serving four ...

Liberty Global (NASDAQ:LBTYA) has reached an agreement to sell its direct broadcast satellite (DBS) TV operations currently serving four Eastern European markets to M7 Group for a total enterprise value of approximately €180 million ($205 million1) on a U.S. GAAP basis, subject to customary debt and working capital adjustments at completion.

Currently the DBS 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.

Closing of the transaction is subject to regulatory approval, which is expected in the first half of 2019. The proceeds from the sale are expected to be used for general corporate purposes.

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