T-Mobile Austria to buy Liberty Global's Austrian Operations

Liberty Global plc (NASDAQ: LBTYA, LBTYB and LBTYK) has announced that it has reached an agreement to sell its Austrian operations, UPC Austria, to T-Mobile Austria, the company said.

At September 30, 2017, UPC Austria´s network passed 1.4 million homes and served 654,000 customers who subscribed to 513,000 broadband, 450,000 voice and 468,000 video services.

Liberty Global will sell UPC Austria for a total enterprise value of approximately EUR 1.9 billion (USD 2.2 billion), subject to customary debt and working capital adjustments at completion. The sale price represents a multiple of nearly 11x UPC Austria´s estimated 2017 adjusted segment operating cash flow (“Segment OCF”), as customarily defined by Liberty Global, or approximately 34x UPC Austria´s estimated 2017 operating free cash flow (“OFCF”).

Closing of the transaction is subject to regulatory approval, which is not expected until the second half of 2018.

Liberty Global is the world´s largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean.

Liberty Global´s businesses are currently comprised of two stocks: the Liberty Global Group (NASDAQ: LBTYA, LBTYB and LBTYK) for our European operations, and the LiLAC Group (NASDAQ: LILA and LILAK, OTC Link: LILAB), which consists of our operations in Latin America and the Caribbean.

For more information, visit www.libertyglobal.com.