Thursday, October 23rd12.4°C
23711
22501

Liberty Global to buy 71.5 per cent of Dutch cable operator Ziggo for $13.7 billion

AMSTERDAM - Liberty Global PLC, the cable company chaired by American tycoon John Malone, says it will buy the 71.5 per cent of Dutch cable provider Ziggo NV it doesn't already own for around 10 billion euros ($13.7 billion) in stock and cash.

Liberty owns the other major Dutch cable provider, UPC, and plans to merge into a dominant cable company that would cover 90 per cent of Dutch households. The management-supported deal announced Monday must be approved by regulators.

UPC and Ziggo argue competition also comes from mobile Internet and providers of ADSL, or high-speed Internet access.

Liberty's offer represents around 34.53 euros per Ziggo share. That's not far above the 33.25 that they closed at Friday, but represents a 22 per cent premium to their closing price on Oct. 15, the day before the companies announced they were in takeover talks.

The Canadian Press


Read more Business News

22625


Recent Trending




Today's Market

 
Okanagan Companies

 



23015

FEATURED Property
21015283393 McQueen Road
3 bedrooms 2 baths
$364,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Weakening global growth worries

The Big Picture Growth worries persist Worries about weakening global growth and its potential impact on the US economic recovery roiled markets around the globe this week. Europe continues to be the ...


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...

_








Member of BC Press Council


23091