Liberty Global 'preparing to sell satellite business'

Company is said to be looking to offload its eastern Europe satellite business
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Liberty Global is preparing to sell off its eastern Europe satellite business.

According to Bloomberg, the company wants to focus on its cable networks in wealthier western markets.

UPC Direct-to-Home broadcasts to 826,900 subscribers in Hungary, the Czech Republic, Romania and Slovakia. Analysts at HSBC have valued the business at $114 million, or six times estimated 2018 earnings.

Liberty Global has declined to comment on the report.

It is not known what the company plans to do with its other remaining eastern European assets, in Poland and Slovakia.