Liberty seals the deal to buy Ziggo

Liberty Global (LBTYA) has agreed to acquire the 70% or so of Ziggo that it doesn't own in a cash and stock deal that values the Dutch cable group at €10B ($13.7B).

The offer is worth €34.53 a share, a premium of 22% to Ziggo's share price of €29.24 on October 15, the day before the company said Liberty had bid for it.

Liberty will also pay stockholders a dividend of one share for each share held.

The deal adds to Liberty's expansion in Europe after it acquired the U.K.'s Virgin Media for $16B last year.

Ziggo is the Netherlands' largest operator, with 2.8M digital-TV subscribers, while Liberty operates in the country through its UPC Broadband unit. The combined company will have 4M customers and revenues of €2.5B, although one wonders whether the deal won't face antitrust hurdles. (Previous) (PR)

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Comments (1)
  • Doewap
    , contributor
    Comments (1033) | Send Message
    This deal is far from sealed. Ziggo shareprice tanked on the news. Liberty Global is to much in debt. Antitrust rules won't allow it. The headline on this is misleading.
    27 Jan 2014, 12:20 PM Reply Like
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