Liberty Global Inc. (Nasdaq: LBTYA, LBTYB, LBTYK) has acquired a stake in cable operator Ziggo NV for €632.5 million (U.S. $810.56 million)
The purchase price works out to about $32 per share. The shares were trading at about $26 before teh deal was announced. Liberty bought the 12.65 percent stake from Barclays Capital Securities Ltd. The company said the purchase price was attractive because Ziggo is expecting to pay a $474 million in dividends to shareholders in 2013.
Liberty Global, headquartered in Englewood, Colo., is an international cable company that operates in 13 countries.
Ziggo, based in the Netherlands, provides cable, Internet and telephone services to residential and commercial customers.