Breaking News

Tweet TWEET

Liberty Global Acquires a 12.65% Stake in Ziggo, the Largest Cable Operator in the Netherlands

  Liberty Global Acquires a 12.65% Stake in Ziggo, the Largest Cable Operator
  in the Netherlands

Business Wire

ENGLEWOOD, Colo. -- March 28, 2013

Liberty Global, Inc. (“Liberty Global,” or the “Company”) (NASDAQ: LBTYA,
LBTYB and LBTYK) today announces that it has acquired 25.3 million shares in
Ziggo N.V. (“Ziggo”) from Barclays Capital Securities Limited at €25.00 per
share (the “Purchase Price”), for a total investment of approximately €632.5
million. As a result of this investment, Liberty Global owns 12.65% of Ziggo,
based on the shares outstanding as of December 31, 2012.

Liberty Global considers the acquisition of this minority stake in Ziggo as an
attractive opportunity to make a strategic investment in a market where it
already enjoys a sizeable presence through its UPC Netherlands subsidiary. The
Purchase Price is also financially attractive given the stock’s approximate
7.4% dividend yield, which is implied by Ziggo’s expectation that it will pay
€370 million of dividends during 2013.

Liberty Global will fund the acquisition of Ziggo shares with a non-recourse
margin loan and existing liquidity. As the transaction does not result in
Liberty Global obtaining a controlling interest in Ziggo, no regulatory
approvals are required.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, including statements
regarding the transaction and the anticipated consequences and benefits of the
transaction, Ziggo’s expected dividends, and the impact of the transaction on
our operations and financial performance. These forward-looking statements
involve certain risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by these statements. These
risks and uncertainties include overall financial market conditions, any
material business or financial developments at Ziggo, the continued use by
subscribers and potential subscribers of Ziggo's services, as well as other
factors detailed from time to time in the Company's filings with the
Securities and Exchange Commission including our most recently filed Form
10-K. These forward-looking statements speak only as of the date of this
release. The Company expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statement
contained herein to reflect any change in the Company's expectations with
regard thereto or any change in events, conditions or circumstances on which
any such statement is based.

About Liberty Global

Liberty Global is the leading international cable company, with operations in
13 countries. We connect people to the digital world and enable them to
discover and experience its endless possibilities. Our market-leading
television, broadband internet and telephony services are provided through
next-generation networks and innovative technology platforms that connect 20
million customers who subscribe to 35 million services as of December 31,
2012.

Liberty Global's consumer brands include UPC, Unitymedia, Kabel BW, Telenet
and VTR. Our operations also include Chellomedia, our content division, UPC
Business, a commercial services division, and Liberty Global Ventures, our
investment fund. For more information, please visit www.lgi.com.

Contact:

Liberty Global, Inc.
Investor Relations
Christopher Noyes, +1-303-220-6693
Oskar Nooij, +1-303-220-4218
or
Corporate Communications
Hanne Wolf, +1-303-220-6678
Bert Holtkamp, +31 20 778 9800
 
Press spacebar to pause and continue. Press esc to stop.