Liberty Global (LGI) has increased its recently acquired stake in Dutch cableco Ziggo to 15%, a filing with the Dutch stock exchange regulator has revealed.
LGI, which owns Ziggo rival UPC Netherlands, initially bought a 12.65% stake from Barclays for…
Liberty Global (LGI) has increased its recently acquired stake in Dutch cableco Ziggo to 15%, a filing with the Dutch stock exchange regulator has revealed.
LGI, which owns Ziggo rival UPC Netherlands, initially bought a 12.65% stake from Barclays for €632.5m or €25 per share in late March.
At the time Liberty described the move as “an attractive opportunity to make a strategic investment in a market where it [Liberty] already enjoys a sizeable presence”.
When former private equity owners Warburg Pincus and Cinven exited Ziggo through an accelerated bookbuild last week, Liberty acquired an additional 2.35% or 4.71 million shares. According to Ziggo last week’s sale was for €25.75 per share, implying that Liberty paid around €121.2m for the additional shares.