John Malone's Liberty Global Makes New Bid for Dutch Cable Group
The pan-European cable conglomerate has restarted talks to take full control of Ziggo, in which it holds a 28.5 percent stake.
John Malone's Liberty Global has restarted negotiations about taking full control of Dutch cable group Ziggo.
The pan-European cable operator's initial bid was rejected by Ziggo in October as too low. Ziggo on Thursday confirmed the new talksm but declined to give details.
“Further announcements will be made if and when relevant," it said. "There is no certainty that any agreement can be reached or that any offer will ultimately be made." Confirmation of the talks sent Ziggo shares up 6 percent in early trading.
Liberty Global currently controls a 28.5 percent stake in Ziggo, the largest cable company in the Netherlands with a market cap of around $9.13 billion (€6.63 billion).
Liberty Global already owns the country’s second-largest cable company, UPC Nederland. Any takeover deal would have to be approved by Dutch regulators.
Liberty has been aggressively expanding in Europe, most recently acquiring U.K. group Virgin Media for $24 billion earlier this year.