Liberty Global has acquired 100% of the Belgian operator Telenet following a simplified squeeze-out.Following the acquisition, Telenet shares were delisted from Euronext Brussels at close of trade on October 13.Commenting on the development, Telenet CEO John Porter said: “Friday October 13, 2023 was the last day Telenet was listed on Euronext Brussels. As from settlement of the Simplified Squeeze-Out Period, all the company’s shares will be (indirectly) owned by Liberty Global resulting in the successful take private following Liberty Global’s initially announced intention in March.“I would like to sincerely thank all shareholders who have invested in Telenet over the past years for their trust. Over the years, we have witnessed the ever-changing dynamics of the market. Our presence on the stock exchange has been a significant part of our journey, and we are proud of what we have achieved. The take private of Telenet by Liberty Global positions Telenet to execute our long-term strategy and vision. It will allow us to further focus on our core operations, enhance operational efficiency, and prioritise sustainable growth. We believe this transaction will benefit our employees and customers as we embark on the next phase of our corporate journey.At Telenet, we continue to believe in the tremendous potential of digital and we are committed to help people and businesses to stay one step ahead in the digital age. We are confident that Liberty Global’s ownership will further enable us to concentrate our resources where they matter most and continue our focus on innovation and excellence in the Belgian telecom and entertainment sector”.
Copyright © 2023 Broadband TV News.