The sale just before Christmas of 774,200 DTH TV customers by Liberty Global is a rationalization that has probably come too late to save the value in this customer base. When last reported individually, these markets were Romania (356,500), Hungary (258,400), the Czech Republic (99,100) and Slovakia (75,500) – but since 2017 Liberty has lost some 45,000 DTH customers – likely due to lack of attention and this segment already being unofficially on the market. The cheeky private equity-run M7 was perhaps always the most likely company to take them on, due to its attention to detail and its ability to make money out of smaller existing DTH customer bases, which are perceived in the market as weak. It acquired…