U.S. based cable giant Liberty Global PLC (LBTYA, LBTYB) wants
to take over Dutch cable operator Ziggo NV (ZIGGO.AE) to create a
new cable network in the Netherlands and Belgium, manager magazin
reports Wednesday citing people close to the discussions.
Liberty Global already holds a 28.5% stake in Ziggo, and has
now, according to the magazine, decided to take over the company.
Liberty Chief Executive Mike Fries wants to finance the move with
shares, however, the funding isn't in place yet, the magazine
adds.
"We have heard about the rumors, but our company policy is not
to comment on market rumors," Ziggo spokesman Martijn Jonker
said.
Liberty Global also declined to comment on the report.
The U.S. company, led by media mogul John Malone, has forged
ahead lately on an aggressive global expansion plan, with a focus
on Europe. Apart from increasing its stake in Ziggo, it has also
raised its stake in Telenet Group Holding NV (TNET.BT) to around
58% after a tender offer to take full control of the Belgian cable
operator failed. Further, it completed its purchase of U.K.
cable-television and Internet provider Virgin Media.
Magazine website: http://manager-magazin.de
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