je.st
news
Liberty Global buys 12.65% stake in Ziggo
2013-03-28 09:05:00| Telecompaper Headlines
(Telecompaper) Liberty Global has acquired a 12.65 percent stake in Ziggo, the Netherlands' largest cable operator. Liberty, which already owns the second-largest cable operator UPC Netherlands, bought 25.3 million shares in Ziggo from Barclays for EUR 25 each. Barclays was left with the shares after Ziggo's shareholders Warburg Pincus and Cinven recently sold down their stake in the company in a secondary offering. Liberty said it considered the acquisition a strategic investment as well as a financial gain, given Ziggo's expected 7.4 percent dividend yield this year. Liberty Global is funding the acquisition of Ziggo shares with a non-recourse margin loan and existing liquidity. As it does not result in Liberty Global obtaining a controlling interest in Ziggo, no regulatory approvals are required. Ziggo's board issued a statement noting the acquisition and said it will "continue to focus on executing Ziggo's strategy in the best interests of its stakeholders".
Tags: global
liberty
buys
stake
Category:Telecommunications
Latest from this category |
All news |
||
|
|||