Halister News

(Bloomberg) -- JV to create national unified communications provider in the Netherlands with total cost, capex and revenue synergies reaching an estimated net present value of approximately EU3.5b after integration costs.

• Total synergies include cost and capex synergies with run- rate savings of EU280m on an annual basis by the 5th full yr post closing, equivalent to NPV of ~EU2.5b after integration costs
• Based upon enterprise value of each business, and after deducting Ziggo’s EU7.3b of net debt, Vodafone will make a cash payment to Liberty Global of EU1 bln to equalize ownership in JV
• Transaction expected to close around the end of 2016 and is subject to regulatory approvals and consultations with the Works Councils

Link to Statement