Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 35

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 1
Chunk 35
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 and 5G services. In 2024, we participated in a national spectrum auction in the Netherlands and successfully acquired additional spectrum in the 3.5 gigahertz range. Competition remains significant across each of our markets, especially with the rise in popularity of MVNO players. We offer various calling and data bundle plans and use FMC benefits to cross-sell mobile to our existing fixed customers. Our ability to offer FMC services is a key driver of growth. Furthermore, in order to address lower segments of the market, we operate with ancillary mobile brands, such as BASE (Belgium), giffgaff (U.K.) and Hollandsnieuwe (Netherlands). 

    The market for fixed-line telephony services is competitive in all of our markets. Changes in market share are driven by the combination of price and quality of services provided and the inclusion of telephony services in bundled offerings. Our fixed-line telephony services compete against the incumbent telecommunications operators. In all of our markets, we also compete with other VoIP operators offering service across broadband lines. In addition, our businesses face competition from other FTTx-based providers or other indirect access providers. 

In each of our markets, we face competition with a dominant fixed-line telephony provider, most of which also have competitive mobile offers based on 4G or 5G services. In Belgium, the key dominant telephony providers is Proximus. Proximus is also the largest mobile operator based on number of SIM cards. Proximus also includes its mobile products in bundles with fixed-line services. Moreover, there is a fundamental shift in customer preference towards mobile and OTT. As a result, we expect our fixed telephony user base to continue its decline in favor of mobile connectivity and OTT services.

Human Capital Resources

As of December 31, 2024, our consolidated subsidiaries had an aggregate of approximately 6,820 full-time equivalent employees, including approximately 3,750 in Belgium, 1,370 in the U.K., 945 in the Republic of Ireland, 410 in the Netherlands, 245 in Slovakia and 100 in the U.S. With respect to our significant nonconsolidated joint ventures, the VMO2 JV employs approximately 15,750 people and the VodafoneZiggo JV employs approximately 6,150 people. None of the above figures include contractors or temporary employees. 

A majority of our European employees are represented by workers councils. We strive to maintain a positive relationship with all