Barclays sells off its Dutch slice for £535m
Friday 29 March 2013
Barclays has offloaded its stake in the Dutch media group Ziggo to the billionaire who is buying Virgin Media. The banking group has agreed to sell a 12.7 per cent holding to Liberty Global, which is controlled by John Malone, pictured, for €633m (£535m). Last month, Mr Malone agreed the $16bn (£11bn) takeover of Virgin Media.
Liberty has pay-TV operations around the world and is the largest cable operator in most of its 11 European markets. The group has played down suggestions it is trying to go head-to-head with the media mogul Rupert Murdoch, despite its aggressive expansion across Europe.
The Colorado-based group said: "Liberty Global considers the acquisition of this minority stake in Ziggo as an attractive opportunity to make a strategic investment in a market where it already enjoys a sizeable presence through its UPC Netherlands subsidiary."
Barclays was left holding the Ziggo shares after failing to find enough bidders for a stake it was selling on behalf of Cinven and Warburg Pincus. The bank had agreed to underwrite the so-called block sale.
South Korea ferry passengers who were told to stay put 'got trapped' aboard sinking ship
Are beards attractive? Ryan Gosling says yes, but science says no. Take the A-list facial hair challenge and find out who's right
Malaysia Airlines MH370 co-pilot's phone 'was on and made contact with network tower' 30 minutes after plane turned around
Andre Johnson: Wu-Tang Clan-discovered rapper severed his penis and jumped from LA building
Oscar Pistorius trial: Defence witness 'unqualified' to testify
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage on Have I Got News For You: Ukip leader ridiculed over expenses and party 'fruitcakes'
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
- 1 Poveglia: 'World's most haunted island' up for sale...is anyone brave enough to buy it?
- 2 Big Bang Theory to get special Star Wars episode with help from Lucasfilm
- 3 Babies cry at night to stop mothers procreating, scientists claim
- 4 Pharrell Williams 'Happy': British Muslims dance to song in video
- 5 24 people applied for the 'world's toughest job', here are their interviews
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...