Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 40

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 1
Chunk 40
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 of Ireland, ensuring that no hard border is placed between the two, as well as keeping Northern Ireland inside the E.U. single market. The Northern Irish Protocol, while not material to our or the VMO2 JV’s operations, affects the movement of CPE and installation personnel between Northern Ireland and the Republic of Ireland. 

Sector Regulations

The European Electronic Communications Code (the Code) is the primary source of regulation governing our E.U. operations. The Code has been transposed by all of the Member States in our footprint into their respective national laws and will be reviewed by the Commission in 2025. The U.K. has also largely transposed the Code into its national laws. 

The Code primarily seeks to develop open markets for communication services within Europe. It harmonizes the rules within the E.U. establishing and operating electronic communication networks, including cable television and traditional telephony networks, and offering electronic communication services, such as telephony (including OTT services), internet and, to some degree, television services. 

Certain key provisions of the Code that are most applicable to our operations include:

•Significant Market Power. Specific obligations imposed by National Regulatory Authorities (NRAs) in E.U. Member States apply to service providers deemed to have Significant Market Power (SMP) in a relevant market. For purposes of the Code, a service provider has SMP where it enjoys a position of significant economic strength, affording it the power to behave independently of competitors, customers and consumers to an appreciable extent. 

If a service provider is found to have SMP in any particular market, the applicable NRA must impose certain conditions on that service provider. We have been found to have SMP in certain of our markets, and further findings of 

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SMP are possible, which may negatively impact our business. However, across our footprint, we have noticed a tendency of NRAs towards deregulation, with only a few markets currently being subject to this type of regulation. The U.K. has a similar system, with the applicable NRA assessing markets on a forward-looking basis to determine SMP.

•Must-Carry Obligations. Member States may impose reasonable must-carry obligations on certain service providers in their jurisdiction. Such obligations must be based on clearly defined general interest objectives, be proportionate and transparent and be subject to periodic review. The U.K. has a regulatory system that reflects these principles. We are subject to must-carry regulations in all our markets, and we do not expect such obligations to be curtailed in the foreseeable