Liberty Global has increased its stake in Dutch cable operator Ziggo to 28.5%, the Dutch company said 7/27. Liberty, which also holds a controlling stake in Belgian cable operator Telenet and Ziggo’s Dutch rival UPC, acquired its first 12.65% of Ziggo when Barclays was left with shares it failed to place for previous owners Cinven and Warburg Pincus. Liberty had subsequently increased its stake to 15%.
“The supervisory board and the board of management will continue to act in the best interests of its stakeholders in assessing steps made by Liberty Global while continuing to focus on executing Ziggo’s strategy,” the Dutch group said in a statement.
Ziggo’s shares have fallen by some 10% since the group cut its profit outlook for 2013 on 7/18, said the Reuters story.
Dutch law would require Liberty, Ziggo’s biggest shareholder, to make a bid for all of Ziggo should it acquire a stake greater than 30%.