Mike Fries

Liberty Global commercial chief departs in major reorganisation

Liberty Global is to decentralise its organisation in a series of steps that will reflect its reduced scale post the sale of assets to Vodafone, the first of which sees the departure of Diederik Karsten, the company’s chief commercial officer. Liberty Global said that the departure of Karsten, who has served with the company since […]

Fries: Liberty’s sale of assets is ‘important inflection point for cable’

Liberty Global’s sale of assets marks “a pretty important inflection point for European cable” following a period of organic and acquisition growth for the company, according to CEO Mike Fries, speaking at the UBS Global Media and Communications Conference yesterday. He said that cable in Europe now faces telecom competitors that are “pretty darn good […]

Fries: German Cartel Office move is ‘no surprise’

German competition watchdog the Bundeskartellamt’s move to have the EC refer Vodafone’s planned acquisition of Unitymedia to was “totally expected and not a surprise at all” for Unitymedia parent Liberty Global and the company remains confident that the deal will be approved, according to president and CEO Mike Fries. Speaking to analysts after Liberty posted […]

Liberty Global’s Fries mulls Swiss consolidation and a Dutch buyout

Liberty Global is mulling potential consolidation in the Swiss market and a longer-term decision about whether to buy out Vodafone in its Dutch JV, according to president and CEO Mike Fries. Fries, speaking at the Goldman Sachs’ Communacopia Conference in the US, said that Switzerland remains a “challenging” market and that Liberty was looking at […]

Liberty Global will ‘lean’ towards shareholders with US$12bn Vodafone cash proceeds

Liberty Global will have US$12 billion (€10 billion) in cash to potentially spend on M&A or share buybacks as well as paying off debt following its sale of assets to Vodafone, but with no obvious transaction on the horizon is likely to look to return a substantial portion to shareholders, according to president and CEO […]

Liberty Global has ‘strong turnaround plan’ for UPC Switzerland

Liberty Global’s struggling Swiss business remains “highly cash-generative” with attractive cash-flow, giving the company “strategic options” as the Swiss market “looks to consolidate and rationalise”, according to CEO Mike Fries. Speaking to analysts as the company posted its Q2 results, Fries said that Liberty had “a pretty strong turnaround plan for Switzerland” but that this […]

Liberty Global spurred by Virgin Media gains

Liberty Global reported financial gains and strong momentum at UK-based Virgin Media in its latest quarter, despite a loss of 11,500 video customers across its footprint. For the second quarter, revenue from continuing operations was up 2.7% year-on-year to US$3.05 billion (€2.63 billion), while operating income was up 31.0% to US$263.9 million thanks to higher […]

Malone confirms succession plan

The CEOs of John Malone’s companies will have the first right to acquire his controlling stock after he dies, the US cable magnate has told the Irish Times. Malone, speaking during Liberty Global’s annual overseas board meeting in Dublin, confirmed to the paper that “most of [his] long-time CEOs…have the first right” to acquire stock […]

Liberty Global unconcerned whether Fox or Comcast take control of Sky

Liberty Global is “not bothered” about whether 21st Century Fox or Comcast gains control of Sky in the UK, according to the international cable operator’s CEO Mike Fries. Speaking to CNBC, Fries said that Liberty both competed and partnered with Sky in the UK and said that the market was “healthy and vibrant” and competitive. […]

Vodafone deal is ‘incredibly positive’ for competition, says Fries

Liberty Global’s planned sale of its German unit to Vodafone is “an incredibly positive transaction for consumers and for competition” and there is no justification for claiming that it threatens competition, as Deutsche Telekom CEO Timotteus Höttges has done, according to Liberty CEO Mike Fries. Speaking to analysts after Liberty announced the deal and its […]

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