Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 46

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 1
Chunk 46
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 list of essential and important entities within their jurisdiction by April 2025. In parallel, the European Commission is working on detailed rules on risk mitigation and notification measures.

The E.U. and U.K. have announced restrictions related to so-called “high risk vendors” (HRVs) in the telecommunications sector. The E.U. published a “toolbox” of suggested measures for regulating 5G networks, acknowledging the need for a risk assessment of 5G equipment suppliers and the need to adopt mitigating measures by E.U. governments. Some Member States are addressing security concerns by identifying individual HRVs in advance, whose equipment should be excluded or limited for all network operations in the country. 

The U.K.’s Telecoms Security Act imposes a security framework on telecommunication providers and gives the U.K. government power to, among other things, direct telecommunication providers to remove HRVs from their networks. Similar legislation has also been adopted in the Netherlands and Belgium.

I-25

The Digital Markets Act and the Digital Services Act are now in force in the E.U. While the Digital Markets Act has an immaterial impact on our business, under the Digital Services Act we have additional obligations, including with respect to periodic reporting, content moderation and establishing points of contact with national authorities and customers.

Most of the provisions of the E.U.’s Data Act will become effective in November 2025. Under the Data Act, companies must share personal and non-personal data generated by IoT products with users and third parties, upon the user’s request. It also requires companies to share personal and non-personal data with public sector bodies in certain situations, and imposes switching and interoperability requirements on cloud services.

The Corporate Sustainability Reporting Directive (CSRD) extends and strengthens the existing rules on non-financial reporting and aims to eventually have the same standards for both sustainability reporting and financial reporting. Companies will have to report on how sustainability issues affect their business, as well as the impact of their activities on people and the environment. The CSRD also aims to simplify the reporting process for companies, providing a single framework for providing information to investors and stakeholders. The first of the reporting requirements relevant to Liberty Global will apply in 2026 (for fiscal year 2025 reporting), with additional reporting requirements coming into effect on a staggered basis until 2029.

Our operating companies are also subject to both national and European level regulations on competition and consumer protection, which are largely regulated under the Code. For example, while our operating companies may offer their services in bundled