Liberty Global Ltd. filed a Rule 425 communication on November 3, 2026, disclosing an employee message regarding the planned Ziggo Group spin-off and VodafoneZiggo's recent operational performance.

Key Highlights

  • Spin-off timeline: Liberty Global stated it "remain[s] on track for the Ziggo Group spin-off in Q2 2027," according to the filing.
  • Synergies above target: The filing states that "expected synergies are also now well above our original €1 billion target."
  • Revenue growth: VodafoneZiggo "returned to revenue growth for the first time since 2024," according to the communication.
  • Broadband milestone: VodafoneZiggo "delivered its best quarterly broadband result in over seven years," the filing states.
  • 8 Gig service: VodafoneZiggo "became the first major provider globally to offer 8 Gig through DOCSIS 4.0," the filing discloses.
  • Transaction structure: Liberty Global intends to combine its interests in VodafoneZiggo and Telenet into a new holding company named Ziggo Group, to be listed on Euronext Amsterdam.

Liberty Global's Ziggo Group Transaction and VodafoneZiggo Performance Update

Liberty Global Ltd., filed a communication pursuant to Rule 425 under the Securities Act of 1933 on November 3, 2026. The filing reproduces an internal employee message from the company describing progress on the planned Ziggo Group transaction. According to the filing, Liberty Global intends to combine its interests in VodafoneZiggo and Telenet into a new holding company to be named Ziggo Group, with a planned listing on Euronext Amsterdam and a spin-off of Liberty Global's equity interest in Ziggo Group to Liberty Global shareholders.

The communication states that the spin-off remains on track for Q2 2027 and that expected synergies are "now well above our original €1 billion target." On the operational side, the filing reports that VodafoneZiggo returned to revenue growth for the first time since 2024 and achieved its best quarterly broadband result in over seven years. The filing also states that VodafoneZiggo became the first major provider globally to offer 8 Gig service through DOCSIS 4.0, described as "upgrading our existing network at a fraction of the cost of building fibre, with less disruption to customers and communities."

The filing notes that in connection with the transaction, a registration statement on Form F-4 including a preliminary proxy statement will be filed with and mailed to Liberty Global shareholders. The communication urges shareholders to read the definitive proxy statement and prospectus when available. The filing identifies Liberty Global Ltd. as both the filing entity and the subject company, with Commission File No. 001-35961. The communication contains forward-looking statements that the filing states "are subject to certain risks and uncertainties, some of which are beyond our control, that could cause actual results to differ materially from those expressed or implied by these statements."

What Was Disclosed

Liberty Global filed a Rule 425 employee communication on November 3, 2026, covering the Ziggo Group spin-off timeline of Q2 2027, synergies exceeding the original €1 billion target, and VodafoneZiggo's return to revenue growth alongside its 8 Gig DOCSIS 4.0 launch.