Telenet will permanently delist from the Euronext Brussels on October 13. The acquisition of Telenet by Liberty Global will also be completed on that date.
Liberty Global has been working for months to acquire the necessary Telenet shares. The telecom group needs these shares to complete the takeover of the Belgian operator. According to Telenet, Liberty Global already acquired 96.26 percent of all issued Telenet shares. For the last shares, another round will be opened in which owners can offer their shares to Liberty Global, the so-called ‘simplified buyout offer’. This offer is subject to the same financial conditions as before.
This buyout offer runs from September 22 to October 13, the provider announced on Wednesday. After that period, Liberty Global will delist Telenet from Euronext Brussels. Telenet has been listed on the Brussels stock exchange for 18 years at that time.
Telenet stops Wi-Free
For shares that have not been sold to Liberty Global by October 13, they will be ‘as of right transferred to the bidder’, the provider reports in its press announcement.
Telenet owned by Liberty
After October 13, Telenet will fall completely into the hands of the American telecom magnate. By the way, Liberty Global already had a big hand in the pie; after all, the company already owned 59.18 percent of all Telenet shares. This probably also means that the consequences of the takeover will be relatively limited for the Belgian telecom provider. Nevertheless, because Liberty already provided the hardware and software for the telecom services – including the Horizon software.
The company also has considerable experience in the European telecom market. For example, Liberty is active with our northern neighbors with Vodafone-Ziggo, which also offers fixed and mobile telecom services.