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Ziggo rejects takeover offer from Liberty Global

2013-10-16 14:48:00| Telecompaper Headlines

(Telecompaper) Dutch cable operator Ziggo has rejected a takeover offer from its largest shareholder Liberty Global, which also owns the other main cable network in the Netherlands, UPC. Ziggo said in a statement that it received a preliminary proposal from Liberty Global, but this was deemed "inadequate". The statement follows a report in Germany's Manager Magazin that said Liberty Global was looking to merge Ziggo and UPC along with its Belgian operator Telenet. Liberty Global acquired a 28.5 percent stake in Ziggo earlier this year. Ziggo said there was no certainty that Liberty would come back with a revised proposal.

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