Liberty Global has made an offer to acquire the remaining interest in Dutch cable operator Ziggo it doesn’t already own, its latest attempt to consolidate the European cable business.
Ziggo, which has about 3.1 million customers in the Netherlands said it had received an unsolicited bid from Liberty Global, but found the offer to be “inadequate.” The company added it did not know if another offer would be forthcoming from the cable giant.
Liberty Global is the largest cable operator in Europe with about 20 million subscribers in 13 countries. It agreed to a $16 billion acquisition of U.K. cable operator Virgin Media in February, but since then has fallen short in other attempts to consolidate the business. Liberty Global had bid on German cable giant Kabel Deutschland earlier this year, but was bested by a higher bid from wireless giant Vodafone.
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