Liberty Global acquires additional stakes in Ziggo

By IVCPOST Staff Reporter

Jul 27, 2013 09:39 AM EDT

Liberty Global announced that they have increased their stake in the Dutch cable operator Ziggo. The US cable group increased their stakes by 28.5%. Liberty Global acquired its first 12.65% in Ziggo when Barclays earlier sold shares, that the latter failed to place share for Ziggo's previous owners, Cinven and Warburg Pincus. Liberty Global then increased its stake to 15%.

"The supervisory board and the board of management will continue to act in the best interests of its stakeholders in assessing steps made by Liberty Global while continuing to focus on executing Ziggo's strategy," Ziggo said in a brief statement.

A Dutch law requires that Liberty Global, who is Ziggo's biggest shareholder, make a bid for all of Ziggo should it acquire stakes of more than 30%. Ziggo was listed by the previous owners, Cinven and Warburg Pincus, on the Amsterdam exchange in 2012 and sold their final shares in April of this year.

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