Liberty Global chief expects more M&A

Cable giant Liberty Global expects increased merger and acquisitions activity in the European pay-TV sector in the next twelve months. This comes after the company acquired German cable operator Unitymedia for US$3bn (€1.98bn) last month.

CEO Mike Fries told Reuters Global Media Summit: “This kind of broke the logjam a little bit. To me it’s a very positive sign for the sector generally and for the broader telecoms space.”

He added: “All the money we have on the balance sheet is for really one of two things: share buybacks or interesting acquisition opportunities.”

Liberty Global is also looking to grow its presence in Romania, Czech Republic, Hungary and, in particular, Poland.