Liberty Global increases Ziggo stake to 28.5%

Liberty Global increases Ziggo stake to 28.5%

Liberty Global has increased its stake in Dutch cable firm Ziggo from 15% to 28.5%, the company has announced.

Liberty has already increased its stake in Ziggo once, after initially purchasing a 12.65% stake in the company in April this year, before upping this stake to 15%, as part of an investment strategy across Europe.

An announcement by Ziggo said: “The supervisory board and the board of management will continue to act in the best interests of its stakeholders in assessing steps made by Liberty Global while continuing to focus on executing Ziggo's strategy.”

Earlier this month Ziggo lowered its growth forecast and profit outlook.

There has been a flurry of activity in the Dutch telecoms market recently with America Movil announcing it is to end the 30% cap on KPN’s shareholding limit, marking the possibility that the Carlos Slim-owned US business could make a bid for an acquisition of the Netherlands-based operator.

Under Dutch law a company must make a bid for the entirety of a firm if its stake exceeds 30%.