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Tuesday, September 9, 2014

Liberty Global has no plans to increase ITV stake, (NASDAQ: LBTYA)

Liberty Global has no plans to increase its stake in British broadcaster ITV, its chief strategy officer James Ryan said, after the firm took a 6.4 percent stake earlier this year as part of its European expansion.Speaking at the Royal Television Society's conference in London on Tuesday, Ryan said the holding gave the London-headquartered cable group a "seat at the table", but that it had no plans to increase it at this stage."We do want to find some portfolio investments we can use to enhance the Virgin Media acquisition, so for us the ITV stake, where it is right now is perfect," he said. "It gives us a seat at the table at any UK content discussions."Liberty Global, which entered the UK last year by buying pay-TV and broadband company Virgin Media for about $24 billion, bought BSkyB's stake in ITV in July.

Shares of LBTYA traded higher by 0.22% or $0.09/share to $41.47. In the past year, the shares have traded as low as $37.98 and as high as $46.46. On average, 3452800 shares of LBTYA exchange hands on a given day and today's volume is recorded at 711804.