Dutch cableco Ziggo has confirmed it is in takeover talks again with John Malone’s Europe-focused Liberty Global (LGI).
In a short statement responding to recent market speculation, Ziggo said the parties are discussing a potential offer by LGI, owner…
Dutch cableco Ziggo has confirmed it is in takeover talks again with John Malone’s Europe-focused Liberty Global (LGI).
In a short statement responding to recent market speculation, Ziggo said the parties are discussing a potential offer by LGI, owner of UPC Netherlands.
“There is no certainty that any agreement can be reached or that any offer will ultimately be made,” the cableco added.
LGI, which has built a 28.5% stake in Ziggo, was not immediately available for comment.
In October, Ziggo rejected a preliminary acquisition proposal from LGI, describing it an inadequate. In a statement at the time, the cableco said it was not sure whether it would receive a revised offer from the larger company.
LGI CFO Charles Bracken told investors at a Barcelona conference in November that the company was still considering a combination with Ziggo, noting that there are clear synergies with UPC Netherlands. Bracken also stressed that LGI is “very disciplined about prices”.
Earlier this year, reports indicated that LGI was planning a full takeover of Ziggo, aiming to combine it with UPC Netherlands and Belgium’s Telenet, which it also controls.
In 2013, LGI has added to its European portfolio by buying UK cableco Virgin Media for US$23.3bn. The company also made a preliminary bid for Germany’s Kabel Deutschland, but lost out to Vodafone.
