Liberty Global will increase its ownership in Belgium’s Telenet to 93.23% and reopen its offer on August 24.
As previously reported by Broadband TV News, Liberty Global published the prospectus related to its buyout in early June.
Telenet notes that during the initial acceptance period, which ended on July 12, 34,676,001 shares of Telenet were tendered into the offer, as a result of which the offeror will own a total of 101,018,038 shares once the settlement has occurred on July 26 (the “Payment Date”). Taking into account the 3,500,526 treasury shares already held by Telenet, the offeror will directly or indirectly own 93.23% of the shares of Telenet.
It adds that since the offeror, together with Telenet, will own more than 90% of all Telenet shares following the transfer of such shares on the Payment Date, the offer will be mandatorily reopened on Thursday August 24. This subsequent acceptance period will close on September 13.