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Thursday, December 12, 2013

Ziggo says Liberty Global renews takeover push, (NASDAQ: LBTYA)

U.S. cable group Liberty Global has made a renewed attempt to take full control of Dutch cable operator Ziggo to increase its already heavy TV and Internet presence in the Low Countries.Ziggo, which rejected an approach from Liberty in October , said in a statement on Thursday that it was in talks with Liberty about a full takeover offer, though it added that no decision had yet been made.Liberty already has a 28.5 percent stake in Ziggo and also owns Dutch competitor UPC, as well as a majority stake in Belgian group Telenet, the main cable group in the north of Belgium.Ziggo, which from January will be headed by former Deutsche Telekom boss Rene Obermann, said in October that U.S. group's proposed offer was too low. It did not say at the time how much the group controlled by U.S. tycoon John Malone was offering.

Shares of LBTYA fell by 0.82% or $-0.7/share to $84.67. 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 916616.