Liberty Global Optimistic About Deal With Vodafone, but We Remain Dubious; Maintaining FVE
Liberty Global reported a mixed third quarter, with strength in the U.K. through Virgin Media but continued weakness in Switzerland and Belgium. The financial results continue to be clouded by the dichotomy between continued and discontinued operations, as the deal to sell the firm’s assets in Germany, Hungary, Romania, and the Czech Republic remains pending. We continue to peg the probability of the deal coming to fruition at less than 50%, and thus continue to incorporate discontinued business...
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