By Sabela Ojea

Liberty Global PLC said Monday that it has acquired a 4.92% stake in Vodafone Group PLC via a share placement worth about 225 million pounds ($271.4 million).

The European telecommunications company said it is not considering taking over Vodafone or seeking representation on Vodafone's board.

"We believe, like many others, that Vodafone's current share price does not reflect the underlying long-term value of their operating businesses, or their announced consolidation and infrastructure opportunities," Chief Executive Mike Fries said.

At 11:42 a.m. ET, shares of Liberty Global were down 0.7% at $21.12.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

February 13, 2023 12:10 ET (17:10 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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