Sure looks like Liberty Media is taking control over many companies both in Europe as well as already have in SIRI.
Here is the latest news in Jan. 2013 and summary about Liberty Global
Liberty Global is the leading international cable company, with operations in 13 countries. We connect people to the digital world and enable them to discover and experience its endless possibilities. Our market-leading television, broadband internet, and telephony services are provided through next-generation networks and innovative technology platforms that connect 20 million customers who subscribe to 34 million services as of September 30, 2012.
Liberty Global’s consumer brands include UPC, Unitymedia, Kabel BW, Telenet and VTR. Our operations also include Chellomedia, our content division, UPC Business, a commercial services division
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Englewood, Colorado – January 14, 2013
Liberty Global, Inc. (“Liberty Global,” “LGI,” or the “Company”) (NASDAQ: LBTYA, LBTYB and LBTYK) today
announces that 9,497,637 ordinary shares and 3,000 warrants were tendered into the voluntary and conditional
cash offer (the “Offer”) launched by its wholly-owned subsidiary Binan Investments B.V. (“Binan”) on December
18, 2012 (Brussels time) for the outstanding shares and other securities giving access to voting rights of Telenet
Group Holding NV (“Telenet”) that it did not already own and that were not held by Telenet.
The official
announcement of the results in the Belgian financial press, in accordance with article 32 of the Belgian Royal
Decree of April 27 on public takeover bids, will take place on January 18, 2013 (Brussels time). Subject to
satisfaction (or waiver) of the conditions to the Offer on that date, this official announcement will also confirm
Binan’s acceptance of the tendered shares and warrants and whether or not a voluntary reopening of the Offer
will be made. Payment on tendered shares and warrants is intended to take place on February 1, 2013 (Brussels
time).
Following acceptance of the tendered shares, Liberty Global will hold 66,342,037 shares1 and 3,000 warrants2 in
Telenet. This represents approximately 58.4% of the issued and outstanding shares of Telenet (excluding the
220,352 treasury shares held by Telenet).3
Liberty Global notes that as stated in the prospectus for the Offer, it intends to align the strategy and the
operations of Telenet with the rest of the Company. Liberty Global is reviewing the current organization,
governance and reporting structure at Telenet with the intention of effecting a closer management integration of
Telenet within its European operations. Telenet's leverage policy will be aligned with that of Liberty Global such
that target leverage will be 4.0 to 5.0x net total debt to annualized EBITDA (excluding financial leases) and may
increase the indebtedness of Telenet to a level greater than this range.
Mike Fries, President and Chief Executive Officer of Liberty Global, commented: “We remain committed to
investing in growth opportunities for Telenet, maintaining its position as a leading innovator in the Belgian
market, and delivering best-in-class services to its customers. We believe that this is the right time for Telenet to
be more closely integrated within our pan-European platform and in an environment where scale is paramount,
we believe that closer integration will benefit all Telenet stakeholders.”
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