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.
- 1 Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
- 2 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 3 The Simpsons death: Creator Al Jean would 'kill himself' before character like Homer or Lisa
- 4 British man raped while urinating in bushes at Oktoberfest beer festival in Germany
- 5 Pope Francis assures atheists: You don’t have to believe in God to go to heaven
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
British man raped while urinating in bushes at Oktoberfest beer festival in Germany
Hong Kong protests: Leung Chun-ying denies Chinese troops will help to quell demonstrations
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
'Women, walk wherever you want' posters taken down in Stamford Hill following 'unacceptable' signs separating men and women
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Should gay sex be illegal? 16% of Britons think so
- < Previous
- Next >
iJobs Money & Business
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...
£300 - £330 per day: Ashdown Group: SQL Developer (Stored Procedures) Watford...