John Malone’s Liberty Global (LGI) and Dutch cableco Ziggo have said they are making “good progress” on preparations for the planned takeover and expect to file for regulatory approval shortly.
LGI expects to submit a request for review and…
John Malone’s Liberty Global (LGI) and Dutch cableco Ziggo have said they are making “good progress” on preparations for the planned takeover and expect to file for regulatory approval shortly.
LGI expects to submit a request for review and approval with the Dutch financial markets authority by the 21 April deadline required under Dutch law, the companies said in a joint statement.
LGI and Ziggo announced the planned €4.9bn (US$6.7bn) deal, which will see the Europe-focused cableco acquire the 71.5% of Ziggo shares it does not already own, in late January. Dutch takeover law requires them to issue a public progress report four weeks after the announcement.
LGI CEO Mike Fries said on a recent conference call with analysts that the company was in the early stages of talking with the Dutch regulator and European Commission and was confident they would treat the case in a “rational way”. He said he was confident the deal would secure regulatory approval in time for it to close in the second half of the year.
