A fairy tale or an horror movie? “The block trade and the takeover”

This is the story of a cable firm who decide to launch a successful IPO. Let call it Ziggo. Will they end in Liberty Global Mouth?

Listed in March 2012, Ziggo raised €925m. A year after, large stakeholders Cinven and Warbug Pincus took their profit. The stock has a good ride, up 17%.

Here come the facilitator: Barclays was chosen for the block trade… But it has to keep the shares. Shit happens. €700million in the book. The investors were not so interested at that time. Is it the end of the story?

The UK Bank has to disclose its 14% stake in Ziggo. Liberty Global come to the rescue. They bought it and “a little bit” more during the summer. With nearly 30% of Ziggo shares, Liberty Global goes for the takeover.

The story

Ziggo

is still playing.

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