Acquisitions and Dispositions

3 Months Ended

Mar. 31, 2026

Acquisitions and Dispositions [Abstract]

Pending Acquisition

On February 18, 2026, Liberty Global entered into a sale and purchase agreement with Vodafone to acquire its 50% interest in the VodafoneZiggo JV for consideration of (i) €1.0 billion ($1.2 billion) in cash and (ii) a 10% equity interest in a new Benelux holding company, which will hold Liberty Global’s interests in VodafoneZiggo and Telenet.

At closing, the existing shareholders’ agreement governing the VodafoneZiggo JV will be terminated and replaced with a new shareholders’ agreement, and certain existing agreements, including service agreements, between VodafoneZiggo, Vodafone and Liberty Global will continue as amended in connection with the closing of the transaction. The transaction is expected to close in the second half of 2026, subject to regulatory approvals.

Disposition

On April 30, 2026, we completed the sale of our operations in Slovakia (UPC Slovakia) to O2 Slovakia s.r.o., an affiliate of e& PPF Telecom Group B.V. After considering debt and working capital adjustments, we received net cash proceeds of €94.8 million ($111.2 million at the transaction date). In our segment presentation, UPC Slovakia is included in our “all other category.”

In connection with the sale of UPC Slovakia, we have agreed to provide certain transitional services for a period of up to 42 months from the closing of the transaction. These services principally comprise network and information technology-related functions. The annual charges will depend on the actual level of services required by the purchaser, however, we do not expect these charges to be material. Liberty Global will also allow the use of the “UPC” brand for a transitional period of up to three years as part of the transaction.

Effective with the signing of the share purchase agreement on December 18, 2025, we began accounting for UPC Slovakia as held for sale. Accordingly, we ceased to depreciate or amortize the long-lived assets of UPC Slovakia. However, we have not presented UPC Slovakia as a discontinued operation as this transaction did not represent a strategic shift that will have a major effect on our financial results or operations. The carrying amounts of UPC Slovakia’s held-for-sale assets and liabilities, which are included in other current assets and other accrued and current liabilities, respectively, on our condensed consolidated balance sheets, are summarized below:


	March 31, 2026		December 31, 2025
	in millions

Total assets	$	122.7	$	122.5
Total liabilities	$	15.6	$	18.2