Liberty Global has launched a “voluntary and conditional” cash offer for Telenet, the Belgian operator has confirmed.
Liberty Global has been Telenet’s controlling shareholder since 2007. It currently owns 59% of the outstanding share capital.
The €22.00 per share offer represents a mark-up of 59% on the closing price on March 15, 2023.
Liberty will need to hold 95% of the shares in the company before it can begin a “squeeze-out bid” at the same terms to the outstanding shareholders.
In recent years, Liberty has reduced its involvement from 17 territories to just five; and those remaining are often as joint ventures, such is the case with VodafoneZiggo in neighbouring Netherlands.
