Parent company UPC wants Ziggo to take over

The parent company of UPC, Liberty Global, has a ‘provisional bid’ done on Ziggo. The competitor of UPC did not agree because the company bid too low; it is not yet clear whether Liberty Global a higher bid will do.

In a written statement writes Ziggo, in response to recent speculation in the market, to Liberty Global as a ‘provisional bid for a takeover’ has done. According to Ziggo was the offer, however, is not high enough, and it is therefore rejected. The kabelaar says that it is not yet certain whether there is a new bid. How high the bid is, is not clear; Ziggo wants to give no comment; UPC cannot be reached for comment.

In July, it was announced that the parent company of UPC 28.5 percent of Ziggo in hands. Whom more than 30 percent of the shares in a company on the stock exchange in the hands, is obliged to make a bid on the rest of the shares. It is not clear whether that’s going on here. Ziggo made last year known to the trade fair went.

The question is whether a takeover of Ziggo by UPC by marktwaakhond ACM would be approved. On the one hand, it would be Liberty Global, in a very dominant market position in the Netherlands; on the other hand, compete Ziggo and UPC are not directly with each other, making the number of providers per area by an acquisition would not reduce. By region or municipality, there is one cable provider. So UPC is active in Amsterdam, Ziggo in Den Haag.