Tuesday, October 6th2.1°C

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

Recent Trending

Today's Market
S&P TSX13636.84+84.64
S&P CDNX534.23+4.32
S&P 5001981.79-5.26
CDN Dollar0.7642-0.0003
Natural Gas2.452+0.002

Okanagan Companies
Pacific Safety0.215+0.000
QHR Technologies Inc1.19-0.03
Metalex Ventures0.055-0.005
Russel Metals23.02+0.51
Copper Mountain Mining0.54+0.04
Colorado Resources0.07-0.01
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.09-0.00
Decisive Dividend Corp3.48-0.01
Diamcor Mining0.90+0.00


2428847150 - 2440 Old Okanagan Highway
more details
Click here to feature your property
Please wait... loading

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council