Ziggo NV is a Dutch cable television operator. The company said that it had rejected a preliminary takeover bid from Liberty Global Plc. Ziggo said that the offer from Liberty Global, also a shareholder in the Dutch cable firm, was inadequate.
According an e-mailed statement from Ziggo today, "There's no certainty that Ziggo will receive any revised offer from Liberty Global". Earlie, Germany's Manager Magazin had reported that Liberty Global had been looking to acquire the rest of the cable company.
The shares of Ziggo rose to as much as 10% in Amsterdam. According to a Bloomberg report, the shares traded 7.9% higher at EUR31.55 as of 3:56 p.m. local time. This valued the company at EUR6.3 billion. In a data compiled by Bloomberg, Liberty Global has 28.5% stake in Ziggo as of July 25, 2013.
Liberty Global spokesman Marcus Smith did not immediately return calls to comment regarding the report.
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