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Liberty Global will not raise bid for Telenet

Cable giant Liberty Global is not prepared to increase its price for acquiring Belgian network Telenet.

Liberty Global, currently a majority shareholder of Telenet, has made an offer of €35 per ordinary share for the remaining stake in the operator. The Belgian cabler, however, is claiming that they price is too low after independent valuation specialists Lazard put a valuation range for the price per share of Telenet at €37 to €42.

Speaking at a conference, Liberty Global’s finance director Charles Bracken said the price it had offered was a “very full and fair offer”, Reuters reports. He added that any suggestion that it would raise its offer should be “put to bed because it’s not going to happen”.