Deal Tracker: Europe's media, telecom M&A value rises in February, volume falls

The number of deals in the European media and telecom sectors fell to 68 in February compared to 105 transactions recorded in the same period a year ago, according to S&P Global Market Intelligence data.

Despite fewer deals, the aggregate transaction value, however, increased to $2.33 billion against $2.08 billion in February 2022.

Liberty Global PLC's $1.49 billion acquisition of about a 5% stake in Vodafone Group PLC was the month's biggest transaction and the only deal that crossed the $1 billion threshold. The purchase was completed Feb. 13 and was funded using cash on hand, as well as through a transaction.

– See the European media and telecom sector's top M&A deals in January. – Use our Transactions Statistics page to run a custom screen of M&A by industry or geography.

Providence Equity LLP's bid to acquire UK events organizer Hyve Group PLC from Strategic Value Partners LLC for $508.3 million was the second-largest deal for the period under review. Hyve's nonexecutive directors will resign from its board following the completion of the acquisition. The deal's cash component will be funded via equity financing drawn from the Providence Equity Funds.

Meanwhile, the sale of a 75% stake in Russian online education platform UCHI.RU OOO to VK Co. Ltd. for $116.7 million was the third top deal in February.

Four out of the top 10 M&A deals came from the advertising subsector, while two transactions came from interactive media and services. Wireless telecommunication services, integrated telecommunication services, publishing and movies and entertainment also contributed to dealmaking in February.