BRUSSELS, July 27 U.S. cable group Liberty
Global has increased its stake in Dutch cable operator
Ziggo to 28.5 percent, the Dutch company said on
Liberty, which also holds a controlling stake in Belgian
cable operator Telenet and Ziggo's Dutch rival UPC,
acquired its first 12.65 percent of Ziggo when Barclays
was left with shares it failed to place for previous owners
Cinven and Warburg Pincus.
Liberty had subsequently increased its stake to 15 percent.
"The supervisory board and the board of management will
continue to act in the best interests of its stakeholders in
assessing steps made by Liberty Global while continuing to focus
on executing Ziggo's strategy," the Dutch group said in a brief
Ziggo's shares have fallen by some 10 percent since the
group cut its profit outlook for 2013 on July 18.
Dutch law would require Liberty, Ziggo's biggest
shareholder, to make a bid for all of Ziggo should it acquire a
stake greater than 30 percent.
Ziggo was listed on the Amsterdam exchange in March 2012 by
Cinven and Warburg Pincus, both private equity firms, which sold
their final share in the company in April.
Warburg Pincus and Cinven initially invested in Multikabel in
2005 and then embarked on an expansion strategy, adding Casema
and Essent Kabelcom in 2006 and @Home in 2007, after which the
company was rebranded as Ziggo.