Liberty Global, a US cable group, had been planning on a complete takeover deal to offer to Ziggo. The planned takeover of the Dutch cable firm was reported by German weekly Manager Magazin.

Liberty Global holds a 28.5% ownership stake in Ziggo. The US cable firm had been planning to merge Ziggo with its existing UPC operations in the country. The company had also planned to merge Ziggo and Belgian firm Telenet, said the magazine report. Liberty Global already holds a majority stake in Telenet.

Dutch cable company Ziggo declined to comment regarding the report. Meanwhile, Liberty Global was not immediately available to give statements.

Liberty Global CEO Mike Fries told Reuters that he was already contented with the cable company's strategic stake in Ziggo.

The shares of Ziggo increased to as much as 7.7% on Wednesday. At 11:35 GMT, the shares rose to 3.3% at EUR30.21, said a report from Reuters.