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Monday, January 6, 2014

Liberty in final talks to purchase Dutch cable group Ziggo - Bloomberg, (NASDAQ: LBTYA)

U.S.-listed cable telecoms group Liberty Global is finalising talks with Dutch operator Ziggo about a takeover offer, according to a media report. Liberty, which is Europe's largest cable operator and already owns 28.5 percent of Ziggo, has been driving consolidation of the fragmented European cable market.The two companies could announce a deal as early as mid-January, although details such as who will head Ziggo are still to be discussed, Bloomberg said, citing sources.If the firms strike a deal, the future of former Deutsche Telekom Chief Executive Rene Obermann - who started his stint as CEO of Ziggo last week - is uncertain, Bloomberg said.Liberty Global and Ziggo failed to comment on the report.

Shares of LBTYA fell by 0.16% or $-0.14/share to $88.60. In the past year, the shares have traded as low as $62.71 and as high as $89.47. On average, 1662580 shares of LBTYA exchange hands on a given day and today's volume is recorded at 1276425.