Liberty Global Reported Mixed 1Q Results but Agreed to Sell Four Countries’ Operations to Vodafone
Liberty Global reported mixed first-quarter results, with strong revenue growth but light margins. It also announced it agreed to sell its German, Romanian, Czech, and Hungarian assets to Vodafone for EUR 19 billion ($22.7 billion). This values the deal at 11.5 times enterprise value to Liberty Global’s definition of trailing 12-month operating cash flow or OCF, which tends to slightly exceed our definition of EBITDA, primarily as OCF excludes stock-based compensation. Despite these changes, we ...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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