Liberty Global finalising Ziggo deal

US- based cable group Liberty Global is close to finalising a deal for the acquisition of Dutch cable operator Ziggo.

The deal could be announced in mid-January.

Some details are yet to be finalised, a source said, and the future of Ziggo CEO Rene Obermann is has not been decided.

Ziggo rejected a takeover bid from the cable company in October 2013, claiming its offer was too low. Talks for the acquisition were re-opened in December 2013.

John Malone-owned Liberty Global is already Ziggo’s largest shareholder, holding a 28.5% stake. Liberty, which also owns the Dutch cable business UPC, is Europe’s largest cable operator and is driving consolidation in the European cable market.