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Liberty Global announces Q2 losses

2009-08-06
Liberty Global, which operates UPC broadband divisions in Hungary and four other CEE territories, reported second quarter loss in revenues of $60.7 million, and a $93 million loss for the first half of 2009.

Hungary registered a decrease of $28.9 million during the second quarter of 2009, and a total of $52.6 million for the first half of the year. The company's other operations in the region (Czech Republic, Poland, Romania and Slovakia) showed a $48.1 million decline in quarter two, and a $144.5 million decrease for the first six months of 2009.

On July 15, 2009, Liberty Global (www.lgi.com) completed the sale of UPC Slovenia to Mid Europa Partners for a cash purchase price of €119.5 million ($167.9 million), before working capital adjustments. UPC expanded operations slightly in Hungary, through minor acquisitions.

Strong operating cash flow was noted in Poland, up by more than 14%.

Liberty Global also announced the authorization to increase its stock repurchase program by an additional $250 million.The company trades on NASDAQ as LBTYA, LBTYB and LBTYK.