John Malone’s Liberty Global agreed to sell its 38 percent stake ...
John Malone’s Liberty Global agreed to sell its 38 percent stake in Jupiter Communications for about $4 billion to KDDI Corporation, Japan’s second largest wireless carrier. The deal represents a 65 percent premium to Jupiter’s closing share price on…
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Jan. 22, Liberty said. “Exiting the Japanese market at a substantial premium allows us to redirect our capital to more strategic consolidation opportunities in our core markets as well as our ongoing stock buyback initiatives,” said Mike Fries, CEO of Liberty Global. Liberty Global shares gained 8 percent Monday. After taxes and paying back some debt, Liberty Global will keep about $1.77 billion, said Jason Bazinet, a Citigroup analyst.