Liberty reaches agreement to acquire Ziggo in €10BN deal:
http://www.satsupreme.com/showthread.php/277664-Liberty-reaches-agreement-to-acquire-Ziggo-in-€10BN-deal?goto=newpost via SatSupreme.com - Satellite TV - Daily Satellite TV News
via Tumblr http://kiwieurope.tumblr.com/post/74718777384
Liberty reaches agreement to acquire Ziggo in €10BN deal
Editor | 27-01-2014
After a long drawn-out saga lasting almost a year, Liberty Global has reached a conditional agreement to acquire Dutch cableco Ziggo in a deal valued at approximately €10 billion.
The genesis of the deal began in March 2013, when Liberty Global acquired a 12.65% stake in Ziggo, weeks after John Malone’s US cable behemoth revealed that it was boosting its stake in Belgian cable operator Telenet and buying out Virgin Media for $15 billion. Liberty made its expected move to take over Ziggo in October 2013 but was publicly rebuffed by its board. However, the executive made clear that the door was not fully closed and indeed in December 2013 revealed that the company was in discussions with Liberty Global regarding a potential acquisition.
The acquisition will create a national Dutch cable operator based at Ziggo’s Utrecht headquarters with a combined footprint reaching seven million home, or 90% of the national total. The combined business will provide approximately ten million video, broadband Internet and telephony services to over four million customers through a fibre cable network that generates approximately €2.5 billion.
“This transaction will create a nationwide Dutch cable champion that will drive investment and innovation for the benefit of consumers and businesses alike,” said Liberty Global CEO Mike Fries. “Our combined operations will reach over 90% of all Dutch households, allowing us to compete more effectively with the other national telecommunications and satellite platforms in the Netherlands, and at the same time generate significant revenue and operating efficiencies. We are targeting €160 million in annual run-rate synergies by 2018, which will underpin our growth profile over the next few years in the Netherlands and for Liberty Global overall, as we continue to build scale in Western Europe.”
Added Andrew Sukawaty, chairman of Ziggo’s supervisory board: “For Ziggo this is a great opportunity to create a Dutch industry leader together with UPC Netherlands. In essence, this transaction is about two Dutch companies coming together. Our customers will benefit as the new combination has an agenda of investing in growth and innovative solutions, helping customers to enjoy media and entertainment even more while at the same time ensuring a high level of data security and privacy. The new Ziggo combines two regional networks. By joining forces they will stimulate and maintain the leading position of the Netherlands in the digital economy.”
Editor | 27-01-2014
After a long drawn-out saga lasting almost a year, Liberty Global has reached a conditional agreement to acquire Dutch cableco Ziggo in a deal valued at approximately €10 billion.
The genesis of the deal began in March 2013, when Liberty Global acquired a 12.65% stake in Ziggo, weeks after John Malone’s US cable behemoth revealed that it was boosting its stake in Belgian cable operator Telenet and buying out Virgin Media for $15 billion. Liberty made its expected move to take over Ziggo in October 2013 but was publicly rebuffed by its board. However, the executive made clear that the door was not fully closed and indeed in December 2013 revealed that the company was in discussions with Liberty Global regarding a potential acquisition.
The acquisition will create a national Dutch cable operator based at Ziggo’s Utrecht headquarters with a combined footprint reaching seven million home, or 90% of the national total. The combined business will provide approximately ten million video, broadband Internet and telephony services to over four million customers through a fibre cable network that generates approximately €2.5 billion.
“This transaction will create a nationwide Dutch cable champion that will drive investment and innovation for the benefit of consumers and businesses alike,” said Liberty Global CEO Mike Fries. “Our combined operations will reach over 90% of all Dutch households, allowing us to compete more effectively with the other national telecommunications and satellite platforms in the Netherlands, and at the same time generate significant revenue and operating efficiencies. We are targeting €160 million in annual run-rate synergies by 2018, which will underpin our growth profile over the next few years in the Netherlands and for Liberty Global overall, as we continue to build scale in Western Europe.”
Added Andrew Sukawaty, chairman of Ziggo’s supervisory board: “For Ziggo this is a great opportunity to create a Dutch industry leader together with UPC Netherlands. In essence, this transaction is about two Dutch companies coming together. Our customers will benefit as the new combination has an agenda of investing in growth and innovative solutions, helping customers to enjoy media and entertainment even more while at the same time ensuring a high level of data security and privacy. The new Ziggo combines two regional networks. By joining forces they will stimulate and maintain the leading position of the Netherlands in the digital economy.”
http://www.satsupreme.com/showthread.php/277664-Liberty-reaches-agreement-to-acquire-Ziggo-in-€10BN-deal?goto=newpost via SatSupreme.com - Satellite TV - Daily Satellite TV News
via Tumblr http://kiwieurope.tumblr.com/post/74718777384
No comments:
Post a Comment