Liberty Global (LBTYA) Hits 52-Week High on 2 Billion-Dollar Acquisitions

We recently published 10 Market Winners With Stunning Gains. Liberty Global Ltd. (NASDAQ:LBTYA) was one of the best performers on Wednesday.

Liberty Global soared to a new 52-week high on Wednesday, as investors took heart from a flurry of billion-dollar acquisition initiatives.

At intra-day trading, the stock jumped to its highest price of $13.52 before trimming gains to finish the session just up by 16.76 percent at $13.03 apiece.

In an updated report during the day, Liberty Global Ltd. (NASDAQ:LBTYA) said that it would officially take over VodafoneZiggo with the acquisition of a 50 percent stake from Vodafone Group plc for 1 billion euros.

Under the terms of the agreement, Liberty Global Ltd. (NASDAQ:LBTYA) would pay the entire amount to Vodafone Group, alongside a 10 percent stake in a new company to be named Ziggo Group, which will hold Liberty Global’s interests in VodafoneZiggo and Telenet in Belgium.

Both VodafoneZiggo and Telenet will continue to operate under their current brands.

The transaction was in line with plans to list the Ziggo Group in Amsterdam next year and to spin off the 90 percent held by LibertyGlobal to its shareholders.

In other news, Liberty Global Ltd. (NASDAQ:LBTYA) partnered with InfraVia and Telefonica for the acquisition of fibre provider Substantial Group for 2 billion pounds.

Owned by investors Advencap, DigitalBridge, and Soho Square Capital, Substantial Group is the second largest alternative fibre provider in the UK and is underway with the development of 3.4 million fiber premises upon completion.

The acquisition will be made by the LibertyGlobal, InfraVia, and Telefonica’s joint venture firm, Nexfibre.

im-yf-promo]

While we acknowledge the potential of LBTYA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.