Liberty Global sounding out interest in Virgin Media Ireland

28 Jun 2021

Liberty Global is reported to be exploring the possible sale of its Irish unit, according to British broadsheet The Times. It is understood that in the wake of the completion of the merger of its UK subsidiary Virgin Media with O2 UK, Liberty Global has hired advisers at telecoms investment bank Lion Tree to sound out potential buyers for Virgin Media Ireland. According to the report a sale of the Irish operator – which at 31 March 2021 served just under 388,000 fixed broadband customers and 295,000 fixed voice accesses, as well as 122,000 mobile customers – could generate as much as GBP1.5 billion (USD2.1 billion).

Previously, in February 2021 Liberty Global’s CEO, Mike Fries, was reported as saying that the company was in the final stages of evaluating its long-term strategy in both Ireland and Poland. At that time the executive was cited as saying: ‘It would be surprising to me if we ended 2021 without continued transformation even in those two markets, whatever that might look like.’

Ireland, Liberty Global (incl. LGI), Virgin Media Ireland