European cable multi-service operator (MSO) Liberty Global has announced its acquisition of more than 95% of the outstanding ordinary shares of Ziggo, saying it will commence statutory squeeze-out procedures to take 100% ownership and delist the Dutch cable broadband marker leader. This follows a public offer whereby 74.9% of shares have been tendered, meaning Liberty Global now owns 95.6% of Ziggo’s share capital, paving the way for the merger of Ziggo and Liberty’s UPC Netherlands unit, currently the country’s second-largest cableco. The post-closing acceptance period ends today, with the MSO beginning a statutory squeeze-out immediately in order to acquire remaining shares, arranging payment against delivery for those tendered before the deadline. Liberty Global and Ziggo say they will ‘terminate the listing and trading of the shares on Euronext Amsterdam as soon as possible’.
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