Jan 14 U.S. cable group Liberty Global
raised its stake in Belgian group Telenet to 58
percent from 50.2 percent.
Liberty is seeking to strengthen its grip on Telenet, which
is benefiting from expansion across a range of telecom services.
Liberty has been the controlling shareholder in the company
The cable company offered to buy Telenet, which provides
television, broadband and mobile phone services in the
Dutch-speaking north of Belgium, in September for 35 euros per
share or 1.96 billion euros ($2.6 billion) for the remaining
stake in the company.
It said in November that it would not raise the offer price,
and launched a cash offer the next month for Telenet's shares
and securities through its subsidiary Binan Investments B.V.
Liberty said on Monday that 9.5 million shares and 3,000
warrants were tendered under the offer, giving it access to
voting rights in Telenet that it did not already own and that
were not held by Telenet.
"Liberty Global is reviewing the current organization,
governance and reporting structure at Telenet with the intention
of effecting a closer management integration of Telenet within
its European operations," Liberty said in a statement.
Liberty Global's shares closed down 1 percent at $66.77 on
Monday on the Nasdaq.