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Liberty close to Ziggo deal

Liberty Global is reportedly close to finalising a takeover deal for Dutch cable operator Ziggo, with the firms expected to announce the acquisition as early as this month.

According to Bloomberg, which cites people with knowledge of the matter, the two companies are “putting the final touches” on a deal and are currently negotiating the final acquisition price and other terms.

The report claims that one outstanding issue is whether Ziggo’s new CEO Rene Obermann, who joined this month from Deutsche Telecom, would keep his role post-takeover.

Last month, Ziggo confirmed it was back in talks with Liberty Global, after rejecting a preliminary takeover offer from the firm back in October that it considered to be “inadequate.”

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