LGI unlikely to purchase Ziggo, CEO says

12 Sep 2011

US-based cable group Liberty Global Inc (LGI) does not expect to purchase the Netherlands’ largest cableco, Ziggo, according to its CEO Mike Fries as quoted in an interview with Het Financieele Dagblad. The newspaper quotes Fries as saying that any plans by LGI to acquire Ziggo are effectively on hold for now. ‘We’re nowhere at this moment [concerning a possible takeover of Ziggo].There are no talks. They tell us they are committed to an initial public offering.’ Ziggo postponed its plans for an IPO in due, citing the volatile stock markets, but Fries says its owners are in no hurry to float the company and will not ‘easily panic and exit at a low price’. Nevertheless, the CEO confirmed his firm is still interested in snapping up Ziggo, but says it needs to happen ‘in a prudent manner’.

Netherlands, Liberty Global (incl. LGI)