Liberty Global Announces Its Intention to Proceed with the Offer for Telenet at €35.00 Per Share While Removing the 95% Minimum Acceptance Condition
Liberty Global, Inc. (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) is announcing today a number of decisions relating to its intended voluntary and conditional cash offer for the outstanding shares of Telenet Group Holding NV (“Telenet”) (Euronext Brussels: TNET) that it does not own or that are not held by Telenet, as announced on September 19, 2012 (the “Intended Offer”).
Liberty Global confirms that it intends to proceed with the Intended Offer based on a price of €35.00 (the “Offer Price”) per ordinary share of Telenet, and it has decided to remove the 95% minimum acceptance condition of the Intended Offer.
Liberty Global considers the Offer Price to be highly attractive for Telenet shareholders and intends to proceed with the Intended Offer as soon as practically possible, irrespective of the recommendation expressed by the independent directors of Telenet.
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