Liberty Global Announces Intended Offer For Telenet

(RTTNews) - Liberty Global plc (LBTYA, LBTYB and LBTYK) announced that, through its subsidiary Liberty Global Belgium Holding B.V., it plans to launch a voluntary and conditional public takeover bid for all the shares of Telenet Group Holding NV that it does not already own or that are not held by Telenet. The intended offer would be an offer in cash at a price of 22.00 euros per share.

Liberty Global currently owns 59.18% of Telenet's outstanding issued share capital. Telenet owns 3.12% of the outstanding issued share capital in treasury.

Liberty Global has been the controlling shareholder of Telenet since February 2007. Telenet's board unanimously recommended the intended offer.