Telenet Group Holding NV: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Liberty Global Inc Opens Voluntary and Conditional Cash Offer for Telenet Group Holding NV
Liberty Global Inc announced that its wholly owned subsidiary Binan Investments B.V. (Binan) has opened its voluntary and conditional cash offer (the Offer) for the outstanding shares and other securities giving access to voting rights of Telenet Group Holding NV that it does not already own or that are not held by Telenet. The prospectus sets forth the next steps in the bid process and provides further justification of the Offer price and its attractiveness for minority shareholders. Shareholders will have until 16:00 (CET) on January 11, 2013 to tender their securities into the Offer before the initial acceptance period closes. On September 20, 2012 (CET), Liberty Global announced its intention to launch the Offer, based on a price of €35.00 per ordinary share, for all of the Telenet shares and other securities giving access to voting rights that it does not already own or that are not held by Telenet. Liberty Global has been the controlling shareholder in Telenet since February 2007 and, at September 30, 2012, owned, through Binan, 50.2% of Telenet's issued and outstanding share capital. Liberty Global will finance the Offer by using available cash on its balance sheet and incremental borrowings. The Offer values all of the outstanding shares and other securities giving access to voting rights of Telenet not currently owned by Liberty Global or held by Telenet at approximately €2,040.5 million based on the number of such securities outstanding at September 30, 2012.
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