US-based cable group Liberty Global Inc (LGI) has reportedly purchased a 12.65% stake in the Netherlands’ largest cable services provider Zesko Holding (Ziggo), Telecompaper reports. LGI, which already owns the country’s number two cableco UPC Nederlands, has acquired 25.3 million shares in Ziggo from Barclays for a consideration of EUR25 (USD32.04) per share – equivalent to EUR632.5 million. The banking group was left with the shares after Ziggo’s main shareholders – Warburg Pincus and Cinven – completed a secondary offering in the company. The US cable group is funding the deal via a non-recourse margin loan and through existing resources, it said. It sees the purchase as a strategic move, given that Ziggo is expected to yield a 7.4% dividend in fiscal 2013. In a statement, the Ziggo board noted the share purchase and said it will ‘continue to focus on executing Ziggo’s strategy in the best interests of its stakeholders’. No regulatory approvals are needed as the acquisition does not give LGI a controlling interest in Ziggo.