Liberty Global: Things Got Much Worse, But I Am Still Greedy
A Seeking Alpha article reports that Liberty Global has fallen about 25%, with the decline initially partly tracking a European telecom sell-off and, since 9 October, attributed to concerns reflected in VMO2 and Ziggo bond prices. It cites £5.15 billion taken out of VMO2 since 2021, compared with £2.61 billion of free cash flow.
Why it matters — The article highlights bond-market stress at VMO2 and Ziggo and the gap between VMO2 cash distributions and free cash flow as concerns relevant to LBTYK watchers.