Results 1 to 2 of 2

Thread: Liberty Global takes total control of VTR

  1. #1
    Super Moderator sofien72tu's Avatar
    Join Date
    05-02-2007
    Posts
    5,140
    Uploads
    13

    Liberty Global takes total control of VTR

    Liberty Global takes total control of VTR
    Editor | 15-03-2014

    As it continues its sweeping up of cable TV assets across the world, Liberty Global has acquired the remaining 20% share that it did not own Chile’s largest cable operator VTR.

    The John Malone-owned media giant purchased the shares from a subsidiary of Corp Group Holding Inversiones Limitada in exchange for 10.1 million Liberty Global Class C ordinary shares in a deal whose share consideration had a market value of approximately $422 million.

    VTR now joins a stable including Virgin Media, UPC, Unitymedia, Kabel BW and Telenet. The company has been highly regarded by Liberty Global and only weeks ago announced that it would reinforce its multiscreen presence and launch a TV everywhere service.

    At the same time, Liberty Global CEO Mike Fries noted that VTR was one of the fastest growing companies in which it had a stake. Commenting on taking full control of VTR, Fries added: “Based on the solid foundation we have developed with Corp Group over the last few years, VTR will now enter its next phase of growth in the dynamic Chilean market…We would like to thank Alvaro Saieh Bendeck, his son Jorge Andres Saieh and the Saieh family for their on-going support and the strong relationship and success we have built together.



  2. #2
    Administrator tokoroko's Avatar
    Join Date
    12-03-2009
    Location
    ucassupport.nl
    Posts
    52,239
    Uploads
    139

    Re: Liberty Global takes total control of VTR

    Liberty Global acquires remaining VTR stake

    March 16, 2014 06.58 Europe/London By Robert Briel


    liberty-bloomLiberty Global has acquired the remaining 20% of the outstanding shares in both VTR GlobalCom SpA and VTR Wireless SpA in Chili.

    Liberty Global purchased these shares in Chile’s largest cable operator from a subsidiary of Corp Group Holding Inversiones Limitada in exchange for 10.1 million Liberty Global Class C ordinary shares.

    The share consideration had a market value of approximately $422 million, based on the closing price of LBTYK of $41.80 per share on Thursday, March 13, 2014.1 It should also be noted that as a result of this transaction, VTR Finance B.V., the parent entity of the recently created Chilean credit pool, will now own 100% of both the Chilean broadband communications and wireless businesses.

    Mike Fries, CEO of Liberty Global, said: “Based on the solid foundation we have developed with Corp Group over the last few years, VTR will now enter its next phase of growth in the dynamic Chilean market. We would like to thank Alvaro Saieh Bendeck, his son Jorge Andres Saieh and the Saieh family for their ongoing support and the strong relationship and success we have built together.”

Similar Threads

  1. Liberty Global steps into the ring for ONO
    By tokoroko in forum Daily Satellite TV News
    Replies: 0
    Last Post: 30-01-2014, 13:11:52
  2. Liberty Global closing in on Ziggo
    By tokoroko in forum Daily Satellite TV News
    Replies: 0
    Last Post: 06-01-2014, 18:52:11
  3. Bod Liberty Global op Ziggo in aantocht
    By tokoroko in forum Het Laatste Satelliet TV Nieuws
    Replies: 0
    Last Post: 06-01-2014, 16:56:54
  4. Liberty Global’s profits up
    By sofien72tu in forum Daily Satellite TV News
    Replies: 0
    Last Post: 09-05-2010, 14:09:49
  5. Unitymedia better for Liberty Global
    By sofien72tu in forum Daily Satellite TV News
    Replies: 0
    Last Post: 04-05-2010, 14:35:43

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •