Liberty Global has announced that its subsidiary Belgian Cable Investors has exercised options to purchase 18.668 million shares in Telenet Group, the largest cable operator in Belgium, for a total purchase price of EUR466.7 million (USD 626.6 million) or EUR 25 per share. The shares will be acquired by Belgian Cable Investors affiliate LGI Ventures. The settlement of the exercise will take place within ten business days. As a result of the current transaction, Liberty Global will increase its controlling position from 31.32% to 49.70% of the outstanding shares of Telenet.
Telenet offers cable television, voice and broadband services to residential customers. At 31 March it had approximately 3.05 million revenue generating units (RGUs) including 1.76 million video RGUs (of which 281,000 were digital video RGUs), 482,000 voice RGUs and 804,000 broadband internet RGUs.