Liberty Global To Own Approximately 6.4% Of ITV Plc - Quick Facts

(RTTNews) - Liberty Global plc (LBTYA, LBTYB and LBTYK) announced that it has acquired 259.8 million shares in ITV plc, a leading commercial broadcaster in the U.K., from British Sky Broadcasting Group plc (BSY.L, BSYBY.PK) for total consideration of approximately GBP 481 million. Liberty Global will now own approximately 6.4% of ITV.

Liberty Global intends to finance the acquisition through a combination of a loan linked to a hedging transaction that would be secured by ITV shares and existing liquidity.

As per U.K. Takeover Code Note, Liberty Global confirmed that it does not intend to make an offer to acquire ITV. "Although Liberty Global does not intend to make such an offer, for the purposes of Rule 2.8 of the City Code on Takeovers and Mergers, Liberty Global does reserve the right, in the circumstances set out in Note 2 to Rule 2.8 of the Code or with the consent of the Takeover Panel, to announce an offer or possible offer or make or participate in an offer or possible offer for ITV within the next six months following the date of the current announcement," the company stated.