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Liberty Global increases stake in ITV to 9.9%
2015-07-31 10:36:00| Telecompaper Headlines
(Telecompaper) Liberty Global has purchased 138.7 million shares in UK commercial broadcaster ITV. This increases its existing stake to a total of 398.5 million shares or around 9.9 percent of ITV's ordinary shares. Liberty Global CEO Mike Fries said that ITV was a well-run company with attractive growth potential. Liberty Global first acquired a stake in ITV a year ago, buying 6.4 percent from Sky for GBP 481 million. The company said it was looking to cooperate with ITV on developing content for its cable networks. Liberty Global controls the UK cable operator Virgin Media, as well as cable networks across multiple countries in Europe. It has been increasing its investments in content in the past year, buying also Belgian and Irish broadcasters.
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Category:Telecommunications