Liberty Global to complete Bermuda move by month-end
Liberty Global, the sprawling global telecommunications conglomerate, expects to complete its re-domiciliation to Bermuda by month-end.
The news came in the company’s third quarter earnings report.
CEO Mike Fries said: “Following strong shareholder support for our re-domiciliation to Bermuda, we remain on track to complete the move in late November which will enhance agile capital allocation and strategic value creation initiatives going forward.”
Liberty Global’s businesses operate under some of the best-known consumer brands, including Virgin Media-O2 in Britain; VodafoneZiggo in the Netherlands; Telenet in Belgium; Sunrise in Switzerland; Virgin Media in Ireland; and UPC in Slovakia.
The company reported third quarter earnings from continuing operations of $822.7 million, which compares with the more than $2.4 billion for the prior year quarter.
Third quarter revenue increased 6.2 per cent year-on-year on a reported basis and decreased 4.3 per cent on a rebased basis to more than $1.8 billion, the company said.
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