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Originally Posted by Horizon
Well, they're not going to get to 4 million new homes by the end of next year, which was their original plan, so I agree with the view that they're not really interested in expanding their network now. The reason, I believe, is they don't want to spend the money.
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They might not reach their target in time (or ever), but there is no evidence to suggest that they're not interested in expanding the network. They added 118,000 marketable premises in Q2 and 1.3 million premises since launch.
"But I think from where we sit today this is a steady pace, and one that ensures we're driving the lowest cost per premise and attacking and penetrating the most attractive areas of the market. And that's going to continue.
So I think it's steady as she goes, and I don't see a material change one way or the other. It's a great use of capital for us. It's driving significant returns, it's driving growth, it's driving EBITDA. So we don't see that changing."
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I think Liberty is treading water now. It's sold off some of its companies to Vodafone and its looking to offload the rest as soon as the right opportunity presents itself. Owner John Malone is well into his eighties now and is starting to retire from his various roles, so once he goes, so will his empire.
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After the sale to Vodafone (and the sale to T-Mobile in Austria), Liberty Global will continue to be the leading cable TV and broadband provider in Europe. With around €10bn in cash to inject into the remaining businesses, the deal (if approved) has sparked speculation that Liberty Global may consider buying ITV or a UK mobile operator such as O2 as it focuses its attention on the lucrative UK market.
Malone is not well into his eighties, he's 77. Other than his voting shares in Liberty Global, how his empire is eventually split up is of little concern. Malone has given CEO Michael Fries first right of refusal and the right of last offer to purchase his 27.5 percent voting stake in Liberty Global.