Liberty Global is taking full ownership of the Belgian cable and Pay TV operator Telenet. Mike Fries, CEO at Liberty Global, says the deal will help grow the business, modernise its network and cement its pre-eminent position in the country.
Liberty Global has been a majority shareholder in Telenet since 2007. The move follows a voluntary takeover bid by Liberty Global’s indirect wholly-owned subsidiary, Liberty Global Belgium Holding B.V. Fries says Liberty Global fully supports Telenet management’s “exciting” growth plans for the business.
“We’re delighted to be taking full ownership of Telenet, a move that will benefit not only Telenet customers but also Liberty Global stakeholders and shareholders as we continue to simplify our business. Under full Liberty Global ownership, Telenet will now undoubtedly be on a stronger footing,” he explains.
Telenet shares were delisted from Euronext Brussels at close of trade on October 13, 2023.