Liberty Global Stands Firm on $2.5 Billion Offer for Telenet

ENGLEWOOD: Liberty Global is sticking with its previous bid of 35 euros ($46.10) per share for the stake it does not already own of Telenet Group Holding, totaling $2.5 billion, despite the Belgian telecom company having a higher assessment of its current value.

Liberty Global is currently a majority shareholder of Telenet, owning slightly more than 50 percent. The company wants to buy out all the remaining shares, taking over Telenet completely. In September, Liberty Global made an informal bid of around $2.5 billion. Telenet fired back with a higher independent valuation, citing that the company is worth between 37 euros to 42 euros per share. Liberty Global is holding firm on its current bid, giving Telenet shareholders until January 11 to accept the offer.