Liberty Global PLC will sell its direct-to-home satellite TV business in eastern Europe to Luxembourg M7 Group SA for a total enterprise value of about €180 million.
The transaction is expected to be completed in the first half of 2019, subject to regulatory approval. The cable giant will use the sale's proceeds for general corporate purposes, according to a Dec. 21 statement.
Liberty Global's direct-to-home operations include the UPC Direct brand in Hungary, the freeSAT brand in the Czech Republic and Slovakia, and the FocusSat brand in Romania.
The satellite TV business is a leftover asset that is not included in Liberty Global's proposed sale of its operations in Germany, Hungary, Romania and the Czech Republic to Vodafone Group PLC for €18.4 billion.