Liberty Global, the cable investment firm founded by John Malone, has recently purchased a 12.7% stake in Ziggo NV, the Dutch cable television operator. The original owner is Barclays Plc and the sale was made after bank failed to find a buyer for the shareholdings.
The stake was purchased for Eur632.5 million or US$807 million or about Eur25.00 per share. After the sale, Ziggo's share values rose by 12% to Eur27.15 in Amsterdam trading.
The American cable giant has been steadily acquiring cable assets throughout Europe in line with its plans to expand in the pay-TV market of the continent. One of its recent acquisitions was UK's VIrgin Media Inc for about US$16 billion, its biggest transaction since 2007.
Liberty Global already has a presence in Netherlands through UPC Broadband Holding BV, a rival of Ziggo. Ziggo currently has 2.9 million customers as of the end of 2012 and offers television, digital pay television, high speed broadband Internet and telephone services.
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