LBTYA - Liberty Global: Sunrise Deal Might Still Fail
On the one hand the Liberty Global (LBTYA) (LBTYK) story is getting much easier as it shrinks its footprint, but its Q4/18 earnings release was as complex and confusing as it can get. This is why in this review I will focus on what matters most, i.e. the buy, hold, sell decision making based on a strictly fundamental valuation.
Since the sale of the Swiss business to Sunrise (SNMMF) was confirmed only minutes before earnings were released, the published materials in some cases put Switzerland into the "discontinued operations"