Liberty Global has reached an agreement to sell its Central and Eastern European DTH (direct-to-home) TV services to international pay TV operator M7 Group. The deal, valued at €180 million ($206 million), covers the UPC Direct service in Hungary, the freeSAT brand in Czech Republic and Slovakia, and FocusSat in Romania. The transaction is subject to regulatory approval, which is expected in the first half of 2019.
The proposed deal follows Liberty Global’s sale of key cable TV assets in Germany and Central and Eastern Europe to Vodafone in May 2018, and the divestment of its Austrian unit to T-Mobile in July 2018. The transaction provides further signs of Liberty Global retreating from Europe and doubling down on the markets where it has scale.