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Vodafone wraps up buy of Liberty Global's assets in Romania, 3 other countries

Author Mario Tanev
Vodafone wraps up buy of Liberty Global's assets in Romania, 3 other countries Vodafone

BUCHAREST (Romania), August 1 (SeeNews) - UK-headquartered TV and broadband company Liberty Global said that it has completed the sale of its operations in Romania, Germany, Hungary and the Czech Republic to UK-based telecom group Vodafone for some 19 billion euro ($21 billion).

The net cash proceeds were approximately 10.1 billion euro, Liberty Global said in a statement late on Wednesday.

In Romania, Liberty Global operates through its pan-European telecommunications UPC Europe. Founded in Cluj-Napoca as Astral Telecom in 1993, UPC Romania is now one of the country's largest providers of TV, Internet and fixed-line telephone services. UPC Europe bought Astral Telecom for $420 million in 2005.

Vodafone is primarily involved in the operation of mobile telecommunications networks and in the provision of mobile telecommunications services, such as mobile voice, messaging and data services. 

Liberty Global offers television, broadband internet, fixed telephony services as well as mobile services in a number of EU countries.

($=0.9060 euro)

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