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Liberty Global Offers $2.6B for Telenet

Light Reading
LR Cable News Wire Feed
Light Reading
12/18/2012
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ENGLEWOOD, Colo. -- Liberty Global, Inc. (“Liberty Global” or “LGI”) (NASDAQ: LBTYA, LBTYB and LBTYK) today announces that its wholly-owned subsidiary Binan Investments B.V. (“Binan”) has opened its voluntary and conditional cash offer (the “Offer”) for the outstanding shares and other securities giving access to voting rights of Telenet Group Holding NV (“Telenet”) (Euronext Brussels: TNET) that it does not already own or that are not held by Telenet. The prospectus sets forth the next steps in the bid process and provides further justification of the Offer price and its attractiveness for minority shareholders. Shareholders will have until 16:00 (CET) on January 11, 2013 to tender their securities into the Offer before the initial acceptance period closes.

Liberty Global believes that an Offer price of €35.00 per ordinary share is highly attractive for Telenet shareholders and provides a meaningful premium to relevant benchmarks.

Liberty Global Inc. (Nasdaq: LBTY)

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