Liberty Global is taking its stake in Telenet Group Holding NV from 31.32% to 49.70%. The shares are being acquired from existing shareholders by Belgian Cable Investors affiliate, LGI Ventures BV.
The €466.7 million purchase will increase Liberty’s controlling stake on the Belgian operator from 31.32% to 49.70%. “It was a logical next step for us to exercise these options given their expiration dates and terms,” explained Mike Fries, President and CEO of Liberty Global.
As of March 31, 2007, Telenet had 1,761,000 of the so-called Revenue Generating Units across the triple play offering of video, voice and broadband.