Barclays was constrained to report its 14.2% share in Zigoo, the Dutch cable company after the bank was unable to sell its shares during the stock sale it had conducted this week. Last Tuesday, private equity investors Cinven and Warburg Pincus were able to divest its 20% share in the company.
The stocks were made available in the Dutch market a year ago and Barclays was forced to report its stake in the company to the country's regulator AFM in compliance with regulations requiring reporting for shareholdings above 5% in any company in the country.
The share values were at Eur24.30, a decline of 3.36% from the previous day's trading. The shares held by Barclays comprises 14.2% of all its holdings across its business. While rival firms and banks were open to bid for the shares, Barclays pricing was above the rate set by its other shareholders, thus making it too expensive to purchase.
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