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.
Read more Business News
- BC chief's pay, expenses: $1MBC
- Swimmer's body foundVernon / N. Okanagan
- Body & truck pulled from riverVernon / N. Okanagan
- Pickup hit and runKelowna
|QHR Technologies Inc||1.17||-0.04|
|Anavex Life Sciences||0.26||-0.002|
|Copper Mountain Mining||2.72||-0.03|
|Sunrise Resources Ltd||0.03||-0.005|
|Mission Ready Services||0.15||0.00|
On March 6, 2010 a bridge in Turku, Finland bent 56 inches (143 centimeters) due to structural failures of both piers. No one was injured. The bridge had to be demolished 4 months later. Our infrast...
Eighty percent of our success in learning from other people is based on how well we listen. Other people’s experience can be enormously helpful. With it we can often overcome time restraints and...
Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...