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Ziggo acquisition by UPC parent company is final
Liberty Global, the parent company of UPC, Ziggo finally takes over. The European Commission had already approved the acquisition, but the shareholders of the listed company Ziggo now given their approval.
Ziggo Ziggo shareholders had until Tuesday evening time to offer their shares to Liberty Global. This Liberty Global received 67.2 percent of the shares. Because Liberty Global already owns part of Ziggo, the company now has 87.9 percent of the shares. The UPC parent company wants to have the remaining shares; the company can force shareholders to sell their shares. After that, the company has one hundred percent of Ziggo in hands.
In presenting its quarterly Liberty Global has indicated that the merger between Ziggo and UPC will begin immediately. The two providers will then operate under the name of Ziggo. When UPC customers see the name appear as their cable operator Ziggo is unknown. The merger will provide various ‘synergies’, the company said. According to 20 percent of jobs will NRC at UPC and Ziggo lost as a result of the merger.Viewing:-239
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