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Friday, January 18, 2013

Liberty Global says won't extend Telenet bid, (NASDAQ: LBTYA)

U.S. cable group Liberty Global said on Friday it would not extend its bid for Belgian cable operator Telenet, in which it now holds a 58.3 percent stake.The group held a controlling 50.4 percent of Telenet when it offered 35 euros per share to gain full control of the company in September last year, but most shareholders held out for a higher bid.Liberty Global's offer valued the remaining stake in the Belgian operator, which provides television, broadband and mobile phone services in the Dutch-speaking north of Belgium, at 1.96 billion euros ($2.6 billion).Liberty Global said in an official announcement in Belgian business dailies De Tijd and L'Echo that it now held 58.3 percent of Telenet and 58.4 percent of the voting rights. It also said it would not reopen the bid, which was to expire on Friday.

Liberty Global, Inc. (LGI) is an international provider of video, broadband Internet and telephony services, with broadband communications and/or direct-to-home satellite (DTH) operations, As of December 31, 2011, the Company was serving 19. Shares of LBTYA remained unchanged at $68.52. In the past year, the shares have traded as low as $44.30 and as high as $68.55. On average, 1306040 shares of LBTYA exchange hands on a given day and today's volume is recorded at 0.