Liberty Global said it plans to offer to buy the...
Liberty Global said it plans to offer to buy the remaining public shares of Belgian cable operator Telenet Group Holding for about $45 a share, a 14 percent premium over Telenet’s average closing share price for the prior month after…
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capital adjustments. The deal values the Telenet shares not already owned by Liberty Global at about $2.5 billion, it said. “We believe this is the right time to become a wholly-owned part of Liberty Global’s pan-European platform,” Liberty CEO Mike Fries said. Telenet said an independent panel of directors on its board will review the proposal. Meanwhile, the company is continuing with a planned stock buyback program “in case LGI does not proceed with the Intended Offer … or in case Telenet’s shareholders tender in the Intended Offer by LGI but the conditions to which LGI’s Intended Offer are subject are not met and not waived by LGI,” it said. Disney is “very close” to releasing movies and other content with KeyChest digital rights locker technology, and will likely deploy it “broadly” across many titles, Chief Financial Officer Jay Rasulo told us. He wouldn’t say when the first KeyChest-enabled titles will hit the market and at what price.