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John Malone's Liberty Global Bids $2.5 Billion to Fully Own Belgian Cable Firm

John Malone
Matthew Staver/Bloomberg via Getty Images

The company, which has continued to expand its pay TV footprint via acquisitions, already owns about half of Telenet.

 

John Malone's Liberty Global has offered to acquire full control of Belgian cable operator Telenet, the Benelux country's largest cable firm, for $2.54 billion.

The news comes as the company continues to consolidate cable operators in key European territories.

Liberty Global already owns a little more than 50 percent and offered a 14 percent premium to the company's stock price for the rest.

"This is the right time for Telenet to become a wholly-owned part of Liberty Global’s pan-European platform in its next stage of development," said Liberty Global CEO Mike Fries.

Liberty Global has about 20 million subscribers across 13 countries.

Meanwhile, Telenet on Thursday raised its full-year 2012 revenue growth forecast to 7 percent-8 percent.

Email: Georg.Szalai@thr.com
Twitter: @georgszalai