- Billionaire John Malone’s cable group Liberty Global PLC (NASDAQ:LBTYA) (NASDAQ:LBTYK) is amid discussions to carve out its network assets, Bloomberg reports.
- Liberty is exploring splitting off its telecom infrastructure like cable and fiber, leaving its remaining businesses to focus on providing mobile, internet and TV services.
- Executives at Spain’s Telefonica SA (NYSE:TEF), which co-owns Liberty’s biggest asset Virgin Media O2, are ready to apply that idea to their recently merged U.K. business.
- A Bloomberg analyst estimated that Virgin Media O2’s fixed-line network could be worth 9.8 billion pounds ($13.5 billion).
- Liberty also co-owns VodafoneZiggo, a joint venture in Holland, Telenet Group Holding NV (OTC:TLGHY) in Belgium and Sunrise UPC in Switzerland.
- Liberty hired consultancy Accenture PLC (NYSE:ACN) to help with the work.
- A restructuring could help Liberty Global tap investor demand for pure digital infrastructure and raise funds for upgrades or expansion.
- Liberty Global CEO Mike Fries has said the group’s companies are undervalued and are also examining potential IPOs.
- Meanwhile, it is co-investing in digital infrastructure with the launch of AtlasEdge, a data center joint venture co-owned by DigitalBridge Group Inc (NYSE:DBRG) and Liberty Networks Germany, a fiber joint venture with InfraVia Capital Partners.
- Price Action: LBTYK shares traded higher by 0.74% at $29.87 Friday afternoon.
Calliditas Therapeutics Announced Primary Endpoint Successfully Met In Phase 3 NefIgArd Trial Evaluating Nefecon In IgA Nephropathy
Calliditas Therapeutics AB (Nasdaq: CALT, Nasdaq Stockholm: CALTX) ("Calliditas") today announced positive topline results from the global, randomized, double-blind, placebo-controlled Phase 3 clinical trial NefIgArd, which investigated the effect of Nefecon (TARPEYO®/Kinpeygo® (budesonide) delayed release capsules) versus placebo in patients with primary IgA nephropathy (IgAN).
