Telenet Group Holding NV

M&A Activity • Feb 11, 2016

The enclosed information constitutes regulated information as defined in the Royal Decree of 14 November 2007 relating to the obligations of issuers of financial instruments who are permitted to trade on a regulated market.

Telenet completes BASE Company NV acquisition

Mechelen, February 11, 2016 – The acquisition of BASE Company NV ("BASE") by Telenet Group Holding NV (hereinafter "Telenet") and the subsequent sale by BASE of its 50% stake in VikingCo NV ("VikingCo") to MEDIALAAN NV ("MEDIALAAN") have taken place today. Both transactions were completed following the approval of the Belgian Competition Authority and the European Commission, on January 28 and February 4, 2016, respectively.

On February 4, 2016, Telenet announced that the European Commission had approved its planned acquisition of BASE. Based on this approval, Telenet and Koninklijke KPN N.V. proceeded to implement their agreement for the acquisition of BASE by Telenet for €1,325 million.

The acquisition of BASE is financed through a combination of existing cash and cash equivalents, and committed loans. To this end, Telenet International Finance S.à r.l., the group's finance centre, has fully drawn the outstanding commitments under the Term Loan AA, amounting to €800 million, supplemented by withdrawals of €200 million and €217 million respectively, under the revolving credit facilities Z and X. The remainder, including related fees and expenses, will be financed through existing cash and cash equivalents.

In light of the European Commission's approval and following the Belgian Competition Authority's approval, BASE then sold its 50% stake in VikingCo, the entity that operates the 'Mobile Vikings' brand in Belgium, to MEDIALAAN immediately after the acquisition. MEDIALAAN has also gained control of the other 50% of shares in VikingCo, and has thereby become the sole owner of Mobile Vikings' customer base. VikingCo now operates as a 'light MVNO' on the BASE network.

Last year, Telenet also signed an agreement with MEDIALAAN to transfer the entire 'JIM Mobile' customer base to MEDIALAAN, at the latest within two years. The current branded partner agreement between BASE and MEDIALAAN, on the basis of which the JIM Mobile products are being sold at this point in time, will still continue for some time. BASE will transfer the JIM Mobile customers to MEDIALAAN, at the latest within two years, which will enable MEDIALAAN to become a 'full MVNO' player on the BASE network for both JIM Mobile and Mobile Vikings customers. The transaction creates a platform for MEDIALAAN to become a new, high-performing MVNO player.

There are no changes for the customers of Telenet and BASE for the time being.

For more information, please contact:

Press
Stefan Coenjaerts	stefan.coenjaerts@staff.telenet.be	Tel.: +32 15 33 55 44
Isabelle Geeraerts	isabelle.geeraerts@staff.telenet.be	Tel.: +32 15 33 55 44
Investor Relations
Rob Goyens	rob.goyens@staff.telenet.be	Tel.: +32 15 33 30 54
Thomas Deschepper	thomas.deschepper@staff.telenet.be	Tel.: +32 15 36 66 45

About Telenet – Telenet is a leading provider of media and telecommunication services. Its business comprises the provision of cable television, high speed internet and fixed and mobile telephony services, primarily to residential customers in Flanders and Brussels. In addition, Telenet offers services to business customers across Belgium under the brand "Telenet Business". Telenet is listed on the Euronext Brussels Stock Exchange under the ticker symbol TNET and is part of the BEL20 stock market index.

Additional Information – Additional information on Telenet and its products can be obtained from the Company's website http://www.telenet.be. Further information regarding the operating and financial data presented herein can be downloaded from the investor relations pages of this website. The Company's Consolidated Annual Report 2014 as well as unaudited condensed consolidated financial statements and presentations related to the financial results for the year ended December 31, 2015 have been made available on the investor relations pages of the Company's website (http://investors.telenet.be).

This document has been released on February 11, 2016 at 5.45 p.m. CET