BRUSSELS, April 16 Dutch cable operator Ziggo
, which accepted a bid by U.S. group Liberty Global
, said on Tuesday its core profit fell 4.3 percent in
the first quarter, as it spent more to keep its customers and
fend off competition.
The group, which in January agreed to be bought in a deal
that values it at 10 billion euros ($13.82 billion), said its
spending drive would be highest in the first half of the year.
Ziggo, which faces stiff competition from Dutch telecoms
group KPN in the battle for broadband customers, said
it expected the market to remain competitive and reiterated its
guidance for a flat core profit in 2014 compared to last year.
Overall, core profit in the first quarter fell 4.3 percent
to 213.1 illion euros, with profit margins falling to 54 percent
from 57.4 percent last year.
(Reporting by Robert-Jan Bartunek; Editing by Clarence