Liberty Global (LGI) has raised its stake in Dutch cable operator Ziggo to 15%, according to a filing with the Dutch stock market regulator AFM.
Cinven and Warburg Pincus sold their remaining 17% stake in Ziggo for €25.75 ($33.54) a share.
Liberty Global is the largest shareholder in the company, after acquiring a 12.65% stake in Ziggo in an earlier divestment by Cinven and Warburg Pincus in March.
LGI’s move fuels more speculation about a full takeover of Ziggo by the company. Ziggo is the country’s largest cable operator with 2,851,000 homes connected, a penetration rate of 67.7% (out of 4,211,000 homes passed).
The Ziggo footprint spans 56% of the Netherlands. The largest municipalities served by Ziggo are The Hague, Utrecht, Tilburg, Groningen, Breda, Enschede, Amersfoort, Haarlemmermeer, Den Bosch, Zoetermeer, Maastricht, Leiden, Zwolle, Ede, Deventer, Sittard-Geleen and Delft.
LGI’s UPC Nederland is the second largest cable operator in the country. Should LGI acquire a larger stake in Ziggo, the company would need to seek regulatory approval.
