BRUSSELS Jan 6 U.S.-listed cable telecoms group
Liberty Global is finalising talks with Dutch operator
Ziggo about a takeover offer, according to a media
Liberty, which is Europe's largest cable operator and
already owns 28.5 percent of Ziggo, has been driving
consolidation of the fragmented European cable market.
The two companies could announce a deal as early as
mid-January, although details such as who will head Ziggo are
still to be discussed, Bloomberg said, citing sources.
If the firms strike a deal, the future of former Deutsche
Telekom Chief Executive Rene Obermann - who started
his stint as CEO of Ziggo last week - is uncertain, Bloomberg
Liberty Global and Ziggo declined to comment on the report.
Ziggo's shares rose as much as 2.7 percent on Monday,
following the report, having made a slow start to the new year
in the first few sessions of 2014.
Ziggo said in December no decision had yet been made about a
full takeover offer. It rejected an approach from Liberty -
controlled by U.S. tycoon John Malone - in October as too low.
Analysts have said Ziggo could be worth as much as 37 euros
per share, based on 32 euros for the company and 5 euros which
Liberty could gain in cost savings, as the U.S.-listed group
already owns Dutch peer UPC. Shares were trading at 33.45 euros
at 1200 GMT.