Dutch cableco Ziggo is downplaying rumours about a potential takeover bid from US-based media giant Liberty Global as it gears up for its initial public offering.
Ziggo CEO Bernard Dijkhuizen told Netherlands-based newspaper Het Financieele Dagblad…
Dutch cableco Ziggo is downplaying rumours about a potential takeover bid from US-based media giant Liberty Global as it gears up for its initial public offering.
Ziggo CEO Bernard Dijkhuizen told Netherlands-based newspaper Het Financieele Dagblad the company is not in “parallel talks” with Liberty, Reuters reported, citing the paper.
“This is not a two-track strategy; we don’t need a merger to be successful,” the report quoted Dijkhuizen as saying.
His comments come just a day after Ziggo announced its intention to list a portion of its ordinary shares, leading to speculation that Liberty could still submit a last-minute offer for Ziggo. Liberty Global, which owns rival local cableco UPC, had stated an interest in Ziggo previously.
Liberty has made last-minute offers in the past – as it did with Germany’s Kabel BW last year – but become more cautious about its intentions toward Ziggo recently.
That said, Liberty chief executive Mark Fries reportedly told analysts in a 23 February presentation that it made sense for the company to consider opportunities in the Netherlands.
Ziggo said in its announcement yesterday it will provide details of the size and timeframe of its offering when it releases its prospectus. According to Reuters, the IPO is likely to take place around 14 March.