Liberty Global content with stake in Ziggo

By IVCPOST Staff Reporter

Oct 11, 2013 10:08 PM EDT

Liberty Global is the biggest cable company based outside of the United States. The cable conglomerate is headquartered in London, England formed in 2005 through a merger of Liberty Media and UGC.

The company had announced that it is content with its present 28.5% holdings in Ziggo, a Dutch cable company. Liberty Global said that the telecommunications and television firm had no plans to expand its stake in Ziggo. This was according to the Chief Executive Officer of Liberty Global on Tuesday.

Liberty Global CEO Mike Fries told Reuters on the sidelines of an industry conference in Brussels, "We're happy with the position we have right now. As we've said publicly the position we have now is strategic, that's it, nothing more to add."

Liberty also has a controlling stake in Belgian cable operator Telenet and Ziggo's rival UPC. Liberty Global shares are trading on the NASDQ under the trading symbol LBTYB priced USD79.02 as of September 30, 2013 at 9:04 a.m. GMT.

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