Liberty names Ziggo CEO and IPO price
June 27, 2014
Liberty Global has lined up a new CEO for Ziggo, once its $13.7 billion acquisition of the Dutch cable TV company is completed.
Liberty has named Baptiest Coopmans as CEO, subject to its Ziggo offer being declared unconditional. Coopmans is currently MD of Liberty Global-owned UPC Netherlands, a role he has held since replacing Robert Dunn last year. Ziggo’s current CEO, René Obermann, will step down in September, once the merger is complete.
Meanwhile, LGE Holdco, a unit of Liberty Global, has announced a public offer to all holders of issued and outstanding ordinary shares with
an offer price of €35.74 euros per Ziggo share. The offer price represents a premium of 47 per cent over the closing share price of €24.30 on March 2013, the day before Liberty Global acquired its initial 12.65 percent stake in Ziggo.