Liberty Global takes full control of Telenet

Liberty Global has taken 100% control of  Belgium’s Telenet Group following a squeeze-out of all the shares of Telenet that it did not already own or that were not held by Telenet.

Completion of the squeeze out meant that Telenet was delisted from the stock exchange as of October 13.

Liberty Global received acceptances for 1,156,941 Telenet shares, any shares that were not tendered by the end of the squeeze-out period being automatically transferred to Liberty by law.

Liberty paid €21.00 per share after deduction of the €1.00 gross dividend approved by Telenet’s ordinary general meeting of April 26 and paid on May 5.

“Friday 13 October 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,” said CEO John Porter.

“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 prioritize 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.”