Liberty Global is again in negotiations to acquire Dutch cabler Ziggo, which rejected an offer from the US group in October for being too low.
In a statement, Ziggo confirmed theb fresh talkjs. “Ziggo notes the recent market speculation and announces, further to its statement of October 16, 2013, that it is currently in discussions with Liberty Global regarding a potential offer for the company by Liberty Global.
“Further announcements will be made if and when relevant. There is no certainty that any agreement can be reached or that any offer will ultimately be made.”
Liberty owns 28.5% in Ziggo, whose market cap is €6.63 billion. If Liberty Global increases its shareholding to 30% it will have to make an offer for Ziggo under Dutch law. Confirmation of the talks sent Ziggo shares up 6% in early trading, according to Financieele Dagblad.
Should Liberty Global take control of Ziggo, the deal will be subject to regulatory approval as the company already owns the country’s second largest cable company, UPC Nederland.
The talks come as Liberty expands its presence in Europe, having acquired Virgin Media for $16 billion earlier this year.
