BRUSSELS Jan 18 U.S. cable group Liberty Global
said on Friday it would not extend its bid for Belgian
cable operator Telenet, in which it now holds a 58.3
The group held a controlling 50.4 percent of Telenet when it
offered 35 euros per share to gain full control of the company
in September last year, but most shareholders held out for a
The bid valued the remaining stake in the Belgian operator,
which provides television, broadband and mobile phone services
in the Dutch-speaking north of Belgium, at 1.96 billion euros
Liberty Global said in an official announcement in Belgian
business dailies De Tijd and L'Echo on Friday that it now held
58.3 percent of Telenet and 58.4 percent of the voting rights.
It also said it would not reopen the bid, which was to expire on
Telenet's shares traded 2.8 percent lower in early trading
around 35.72 euros, still above Liberty Global's bid value.
Telenet unexpectedly released a trading update last week,
saying its 2012 revenues rose by 8.2 percent to 1.49 billion
euros, beating analysts' average forecast of 1.48 billion and
company guidance for growth of 7-8 percent.