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Thursday, December 12, 2013

RPT-Liberty Global in talks to purchase cable firm Ziggo, (NASDAQ: LBTYA)

U.S. cable group Liberty Global is in takeover talks with Dutch operator Ziggo , its latest move to consolidate the sector in Europe with a deal analysts say could cost around 5 billion euros ($6.9 billion).Ziggo, which rejected an approach from the company controlled by U.S. tycoon John Malone in October as too low, on Thursday said no decision has yet been made about a full takeover offer.Liberty, which makes more than 90 percent of its revenue in Europe, has been driving consolidation of the fragmented market there seeking to profit from rising and largely recession-proof demand for faster Internet and digital television.The U.S. company has built its leading position in a broad stretch of Europe from Ireland to Romania via acquisitions over the past decade, and already owns 28.5 percent of Ziggo.

Shares of LBTYA fell by 0.69% or $-0.58/share to $84.09. In the past year, the shares have traded as low as $59.81 and as high as $86.82. On average, 1897260 shares of LBTYA exchange hands on a given day and today's volume is recorded at 234795.