Liberty Global has completed its acquisition of Vodafone’s 50% stake in VodafoneZiggo, clearing the way for the creation of Ziggo Group, a new Benelux telecoms business serving around 13 million customers and generating approximately €6.6 billion in annual revenue.

Although Vodafone has sold its joint venture stake, it will retain a 10% shareholding in Ziggo Group, while Liberty Global will own the remaining 90%. Vodafone received around €1 billion in cash as part of the transaction.

Liberty Global plans to list Ziggo Group on the Amsterdam stock exchange in 2027 through a spin-off to its shareholders, following a similar move with Swiss operator Sunrise.

The new company will combine Liberty Global’s interests in VodafoneZiggo in the Netherlands with Telenet in Belgium and Luxembourg, although consumers will continue to see the existing retail brands.

Stephen van Rooyen, currently CEO of VodafoneZiggo, will lead Ziggo Group, while Sunrise CFO Jany Fruytier will become chief financial officer when the new company begins operating in September.

Alongside the restructuring, Liberty Global is reshaping the group’s balance sheet. Telenet and network company Wyre have separated their financing arrangements, allowing Telenet to repay more than €2 billion of debt. The company is also pursuing €1.2-1.4 billion of asset sales, including part of Wyre, VodafoneZiggo’s tower portfolio and property assets, with proceeds earmarked for further debt reduction.

Liberty Global said the enlarged group would have the scale to invest in next-generation networks while generating stronger free cash flow and supporting future shareholder returns.