Saughter and May is advising Vodafone Group Plc on the sale of its 50% interest in VodafoneZiggo Group Holding B.V.

Saughter and May is advising Vodafone Group Plc on the sale of its 50% interest in VodafoneZiggo Group Holding B.V. (“VodafoneZiggo”) to Liberty Global plc (“Liberty Global”) for €1.0 billion in cash and a 10% shareholding in a soon-to-be-formed Benelux entity (“Ziggo Group”), which will own 100% of both VodafoneZiggo and Liberty Global’s Belgian subsidiary, Telenet Group Holding (“Telenet”). Liberty Global’s intention is to spin-off its 90% stake in Ziggo Group to existing shareholders and list 100% of Ziggo Group on Euronext in Amsterdam in 2027. Vodafone has the option to sell its 10% shareholding in Ziggo Group to a third party should a spin not occur within 18 months after completion.

Vodafone and Liberty Global have also agreed that Vodafone will continue to provide certain services, including brand licensing, to VodafoneZiggo with expected charges of €625 million over the next 10 years.