Dutch cablenet Ziggo has thrown out a takeover bid from rival operator Liberty Global.
Responding to recent market speculation the operator said: “The potential offer was considered inadequate and there is no certainty that Ziggo will receive any revised offer. Further announcements will be made if and when relevant.”
Liberty Global, which operates in the Netherlands under its UPC brand, has gradually built a 28.5% in the Dutch net. It acquired its first shares in March this year.
Ziggo went through an IPO in March 2012 and was listed on the AMX exchange in September that year.
Ziggo is the country’s largest cable operator. At the end of July, 2013, Ziggo had 2,818,000 connected homes in its footprint, or a 66.6% penetration. Of these, 2,265,000 took a digital subscription (or 80.4%) with the remain der just taking basic analogue cable.
Liberty Global’s UPC Nederland is Holland’s second largest cabler with 1,672,100 connected home (a penetration of 59.1%) of which 1,094,000 are digital subs (65.45).
