Liberty Global Completes Full Acquisition of Telenet and Announces Delisting from Stock Exchange

The acquisition of Telenet by Liberty Global has been fully completed. The company will be fully owned by Liberty. This also means that the telecom investor will take Telenet off the stock exchange next month.

Telenet say that the acquisition by Liberty Global has now been fully completed. Liberty has acquired an additional 3,164,944 shares from Telenet, giving the parent company 96.26 percent of the total number of shares.

Liberty Global has thus taken an important step in its acquisition process, which has now been going on for more than ten years. Liberty Global can fully take over Telenet if the shareholders agree to a takeover of more than 95 percent of the shares. That failed in July this year; then Liberty managed to buy a maximum of 93.23 percent of the shares and Telenet therefore remained a public company. Liberty Global then opened a new purchasing round. Enough investors have taken advantage of this.

Because Liberty Global now owns more than 95 percent of the shares, the company can delist Telenet from the Euronext stock exchange. However, investors will still have the opportunity to sell their existing shares. A ‘simplified buyout offer’ will open from Friday in which shareholders can sell their remaining shares for 21 euros per share. That is the same price that Liberty Global has now paid for the latest share round. One euro per share in dividend is deducted from this.

The buyout offer is valid until October 13. Any unsold shares will then automatically go to Liberty Global. “On October 13, 2023, at the end of the Simplified Buy-Out Period, Telenet shares will be delisted from Euronext Brussels,” Telenet wrote.

2023-09-20 09:40:42
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