Liberty Global is a European telecommunications holding company that operates fixed-mobile convergence broadband providers across Belgium, Ireland, the UK, and the Netherlands. Its core business is delivering high-speed broadband, mobile, video, and telephony services to residential and business customers under well-known local brands including Telenet, Virgin Media, and Ziggo. Liberty Global's primary revenue driver is subscription fees, with ARPU influenced by bundling penetration, speed tier mix, and annual price increases. The company operates two fully-owned businesses — Telenet in Belgium and Virgin Media Ireland — and holds 50% stakes in Virgin Media O2 (UK) and VodafoneZiggo (Netherlands), both accounted for as equity method investments that return cash via dividends. Liberty Global recently agreed to acquire Vodafone's 50% stake in VodafoneZiggo and plans to merge it with Telenet into a new entity called Ziggo Group, which it intends to list on Euronext in 2027 and spin off to shareholders. Beyond telecom, Liberty Global manages a venture and investment portfolio (Liberty Growth) with holdings across data centers, media, and sports, including a controlling stake in Formula E. The business is capital-intensive, requiring ongoing network investment in HFC upgrades and fiber builds. Liberty Global's stated strategy centers on unlocking value by deleveraging individual operating companies, separating network infrastructure from retail businesses, and distributing operating company equity directly to shareholders — modeled on its 2024 spin-off of Swiss subsidiary Sunrise.