Liberty Global Falls After Lowering Post-Deal Profit Outlook
- Growth in 2016 operating cash flow now seen at 4%-5%
- Company had seen 5%-7% growth at Liberty Global Group
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Liberty Global Plc fell the most in a month after the London-based media company lowered its profit forecast for 2016 as it digests a Belgian acquisition.
The shares fell as much as 4.5 percent, which would be the biggest drop since since July 5. The company, controlled by billionaire John Malone, said Friday it expected operating cash flow for Liberty Global Group to rise 4 percent to 5 percent in 2016, factoring in the acquisition of the former Base mobile-phone business in Belgium, after previously projecting 5 percent to 7 percent. The forecast was unchanged for the company’s Latin American operations, Lilac Group.