Ziggo back in takeover talks with Liberty Global

Ziggo logoDutch cable operator Ziggo confirmed that it is back in talks with Liberty Global, after rejecting a preliminary takeover offer from the firm back in October.

Responding to “recent market statement,” Ziggo said that further to its October statement it is “currently in discussions with Liberty Global regarding a potential offer for the company by Liberty Global.”

“Further announcements will be made if and when relevant. There is no certainty that any agreement can be reached or that any offer will ultimately be made,” said the firm.

In October, Ziggo said it had received a “preliminary proposal regarding a potential offer” from Liberty, but said that this offer was “considered inadequate.”

Liberty already holds a 28.5% stake in Ziggo and, according to reports this week, a potential takeover could value the firm at more than €6 billion.

News of the discussions sent Ziggo’s share price up by more than 7% during trading today.

The approach marks the latest takeover attempt by Liberty Global, which agreed to buy the UK’s Virgin Media earlier this year for €17.2 billion.