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Liberty Global to acquire Ziggo for EUR 10 bln
2014-01-27 09:02:00| Telecompaper Headlines
(Telecompaper) Liberty Global has agreed to buy Dutch cable operator Ziggo for EUR 10 billion in cash and shares. The merger of Ziggo with Liberty's Dutch subsidiary UPC will create the Netherlands' largest cable operator, with a network passing over 90 percent of homes in the Netherlands. Liberty acquired a nearly 30 percent stake in Ziggo last year, and the two confirmed in December talks on a takeover. The offer values Ziggo at EUR 34.53 per share, a premium of 22 percent compared to its price in mid-October when talks first emerged of a possible deal with Liberty. Liberty is offering EUR 11.0 cash, 0.2282 Liberty Global Class A ordinary shares and 0.5630 Liberty Global Class C ordinary shares for each Ziggo share. Liberty also announced plans for a dividend of one Class C share for every other share held by its existing shareholders, to be paid in early March.
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Category:Telecommunications