Ziggo’s investors have approved its sale to telecoms group Liberty Global at an extraordinary general meeting held yesterday in Amsterdam.
Liberty Global struck a deal to buy the Dutch cableco for €4.9bn (US$6.6bn) earlier this year and merge with…
Ziggo’s investors have approved its sale to telecoms group Liberty Global at an extraordinary general meeting held yesterday in Amsterdam.
Liberty Global struck a deal to buy the Dutch cableco for €4.9bn (US$6.6bn) earlier this year and merge with its own local cable assets, UPC Netherlands.
The transaction is now the subject of an in-depth investigation by the European Commission which is expected to end in early November.
Ziggo shareholders have agreed to transfer the assets and liabilities to an affiliate of Liberty Global and subsequently liquidate Ziggo. This is conditional on regulatory approvals, and at least 80% of Ziggo shareholders taking up the offer after its investors voted to lower the threshold from 95%.
Liberty Global’s €35.74 per share public offer expires on 10 September. Ziggo’s stock is currently trading at €35.48.
This week it was reported that Liberty Global made a breakthrough in its efforts to convince the antitrust regulator to allow the deal by offering to sell a premium Dutch TV channel, giving OTT operators access to its internet network and promising to enable rivals to buy its content for reasonable prices.
