Dutch cableco Ziggo has said talks on a potential takeover by Liberty Global (LGI) have advanced.
The Amsterdam-listed cableco said in a statement that “discussions” with John Malone’s Europe-focused cable giant “have progressed”, without…
Dutch cableco Ziggo has said talks on a potential takeover by Liberty Global (LGI) have advanced.
The Amsterdam-listed cableco said in a statement that “discussions” with John Malone’s Europe-focused cable giant “have progressed”, without going into details.
However, Ziggo said there is still no certainty that an agreement will be reached and that further announcements will be made in due course.
Ziggo confirmed in December 2013 that it was back in takeover talks with LGI, which has built a 28.5% in the company and owns rival UPC Netherlands. This came two months after Ziggo rejected a takeover offer from the larger company, describing it as inadequate.
Earlier this month, Bloomberg cited people familiar with the matter as saying Ziggo and LGI were working out the final terms of a deal, which could be announced shortly.
Today, Ziggo reported revenues for 2013 of €1.57bn (US$2.15bn), up 1.8% year-on-year. Adjusted EBITDA was up 0.7% year-on-year to €886.8m (US$1.21bn).
CEO Rene Obermann, who joined Ziggo this month from Deutsche Telekom, said he has been impressed by the Ziggo team and their achievements.
“The company has managed to show growth in the most important service areas such as triple play and broadband internet.”
Obermann also highlighted Ziggo’s launch of mobile services and rollout of Ziggo wifispots as important steps in “an increasingly converged world”.
