Goal of VodafoneZiggo/Telenet shake-ups clear as Stephen van Rooyen is appointed head of new Ziggo Group; CFO of Sunrise, Jany Fruytier, will become CFO of new combined group
Liberty Global is bringing VodafoneZiggo of the Netherlands and Belgium’s Telenet into a single Benelux group. It will have a total of around 13 million customers and €6.6 billion in revenue, as of the end of 2025. Both businesses will continue to operate under their existing brands and leadership teams (see below).
Both Telenet and VodafoneZiggo have undergone changes in leadership and ownership in the last couple of years. In October 2023, Liberty Global became the sole owner of Telenet and promptly delisted it. In February this year, Liberty Global announced it would acquire Vodafone’s 50% stake in VodafoneZiggo for €1 billion. Liberty Global already holds the other 50%.
Now Stephen van Rooyen (pictured), the current CEO of VodafoneZiggo in the Netherlands, will continues with those responsibilities and become CEO of Ziggo Group from 1 September. Jany Fruytier, the current CFO of Sunrise, will become CFO of the new combined group on the same day.
The two will “lead preparations for the planned listing of Ziggo Group in Amsterdam” which is expected to be on Euronext in 2027. It is proposed that 90% of shares will be distributed to Liberty Global shareholders and 10% owned by Vodafone as a result of the pending transaction regarding change of ownership in VodafoneZiggo as outlined above.
Safe pairs of hands
Van Rooyen brings European telecoms and media leadership experience to the role and has led a turnaround at VodafoneZiggo over the past 18 months. Since his appointment in September 2024, he led a turnaround in the business, including lower churn, a refreshed brand, the launch of new customer products and the strongest fixed-line performance in nearly three years.
John Porter continues as CEO of Telenet, which has just delivered its strongest quarterly broadband performance in 10 years. He previously spent more than 17 years at Sky, where he served as CEO of Sky UK & Ireland and Chief Commercial Officer of the Sky Group.
Jany Fruytier has been CFO of Sunrise in Switzerland since 2020, and “played a key role” in the growth and public listing of Liberty Global’s Swiss business, which “has delivered significant shareholder returns” according to Lilbery Global’s public statement.
He was responsible for executing and monitoring the merger and integration of Sunrise and UPC, ensuring the delivery of targeted cost and revenue synergies and tracking the related financial benefits, according to a statement by Sunrise. These efforts helped strengthen the competitive position of the company in the Swiss market.
Releasing value to shareholders
The rationale is that the “new stand-alone group will provide sharper strategic and financial focus and a robust capital structure, giving Ziggo Group the agility to invest in innovative products and customer services, deliver digital-first customer experiences and respond more quickly to evolving customer needs”.
The listing will also provide local investors with the opportunity to invest in a regional telecoms business combining two converged national operators, with strong customer propositions and a compelling outlook for free cash flow generation and value creation over time.
Mike Fries, Liberty Global’s Chairman and CEO, said, “The creation of Ziggo Group is a clear step towards unlocking the value in our Benelux telecoms business for shareholders, ” which has long been a cornerstone of Fries’ stated strategy.
He continued, “Stephen’s pan-European leadership experience and track record of operational transformation, combined with Jany’s financial expertise and experience from the Sunrise listing, give us the right team to deliver this. Together, they will lead two highly complementary businesses, and we see significant opportunities in what these two strong brands can achieve together.”
Stronger Benelux platform?
Van Rooyen stated, “I’m energised to take on this new role. Having led the turnaround at VodafoneZiggo over the past 18 months, I see a clear opportunity in bringing VodafoneZiggo and Telenet together under Ziggo Group. These are two strong, locally rooted businesses, and by working more closely together we can build an even stronger platform for customers across the Benelux. Together, we will continue to raise the bar on customer experience, innovation and growth in the region.”
Porter added, “The development of Ziggo Group creates huge opportunities to generate additional strength and economies of scale at the Benelux level, while at the same time allowing us to maintain our local course and customer focus. I look forward to working closely with Stephen to help build that next phase.”
