Liberty, Ziggo review on hold
August 5, 2014
European Union antitrust regulators have paused their review of Liberty Global’s bid for Dutch peer Ziggo while waiting for the US cable company to provide more details of the deal.
The European Commission said the clock would start running again once it has the information. It had been scheduled to decide on the deal by October 17th.
“During its investigation of this merger, new facts have come to the Commission’s attention, which are important for our full assessment of the merger,” Commission spokeswoman Emer Traynor said in a statement. “The Commission has requested further information from Liberty Global, but Liberty Global has to date not submitted this information.”
Liberty Global said it was holding constructive talks with the Commission. “We remain confident that we will complete the transaction in the second half of this year,” spokesman Bert Holtkamp said.
The deal values Ziggo and its debt at around €10 billion.