Business
LIBERTY GLOBAL ANNOUNCES PUBLICATION OF PROSPECTUS AND RESPONSE MEMORANDUM RELATED TO ITS BID FOR SHARES IN TELENET IT DOESN’T ALREADY OWN
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN ANY JURISDICTION WHERE ITS PUBLICATION WOULD BE UNLAWFUL Initial acceptance period to start on June 8, 2023
About this update from Liberty Global Ltd.
[{"type":"text","content":"\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN ANY JURISDICTION WHERE ITS PUBLICATION WOULD BE UNLAWFUL\n\n\nInitial acceptance period to start on June 8, 2023\n\n\n DENVER, Colorado--(BUSINESS WIRE)--\nLiberty Global plc (“Liberty Global”) (NASDAQ: LBTYA, LBTYB and LBTYK) announces today the publication of the prospectus related to the voluntary and conditional public takeover bid by its indirect wholly-owned subsidiary, Liberty Global Belgium Holding B.V. (Liberty Global Belgium Holding) for all the shares of Telenet Group Holding NV (Telenet) that Liberty Global Belgium Holding does not already own or that are not held by Telenet (the Offer). In conjunction with the prospectus, the Board of Directors of Telenet has prepared a response memorandum in which it sets out its recommendation of the Offer. Both the prospectus and the response memorandum have been approved by the Financial Services and Markets Authority in Belgium (FSMA). The FSMA’s approval does not imply any opinion by the FSMA on the merits or the quality of the Offer.\n\n\nMike Fries, CEO, Liberty Global, commented: “We are pleased to announce the approval of our Offer prospectus. Telenet shareholders can start tendering their shares on June 8, 2023 at an attractive premium. We are committed to maintaining Telenet’s status as a leading and pioneering telecommunications and entertainment company in Belgium.”\n\n\nTelenet’s Board of Directors unanimously supports and recommends the Offer, as confirmed in the statement Telenet issued today. The Telenet Board of Directors has provided its formal opinion in a response memorandum published today.\n\n\nThe Offer is an offer in cash at a price of EUR 22.00 per share, deducting the EUR 1.00 gross dividend approved by Telenet’s ordinary general meeting of 26 April 2023 as paid on 5 May 2023. This results in an Offer price of EUR 21.00 per share (the Offer Price). The Offer is subject to the conditions that, (i) as a result of the Offer, Liberty Global Belgium Holding must, together with Telenet, own at least 95% of the shares in Telenet and (ii) no material adverse change occurs with respect to the closing quote of the BEL-20 index and/or shares of Proximus NV/SA and Orange Belgium NV/SA prior to the date of the announcement of the results of the Offer (subject, in the case of Proximus NV/SA, to an adjustment to take int...