06-02-2013, 14:05
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Liberty Global is to create a new UK plc as part of its $23.3billion (€17.23 billion) acquisition of Virgin Media.
The cash and stock deal is valued at $47.87 per share offer, extending Liberty Global’s reach to over 25 million customers, and cementing its position as Europe’s leading cable operator.
As part of the acquisition, Liberty Global will redomicile from Delaware to the UK by becoming a subsidiary of a new holding company, a UK plc. Liberty Global’s current headquarters and other principal offices will remain in place.
Liberty’s content arm Chellomedia is already based in south-west London.
Liberty Global will be listed on NASDAQ and the existing board will continue to run the company with the addition of one Virgin Media director. A European listing is also under consideration.
Mike Fries, president and CEO of Liberty Global, said: “Adding Virgin Media to our large and growing European operations is a natural extension of the value creation strategy we’ve been successfully using for over seven years. Virgin Media will add significant scale and a first-class management team in Europe’s largest and most dynamic media and communications marketâ€Â.
Once the deal is approved the majority of Liberty Global’s revenues will come from five countries; the UK, Germany, Switzerland, the Netherlands, and Belgium, where Liberty is currently in a tussle to take full control of the Telenet business.
Liberty Global also controls the vast majority of cable networks in the Republic of Ireland.
The Virgin brand will be maintained in the UK, rather than taking the UPC moniker used by Liberty Global on the continent.
Virgin Media CEO Neil Berkett said: ‘Over the past six years, Virgin Media has transformed the digital experience of millions of customers, catalyzed a deep-rooted change in the UK’s digital landscape and delivered impressive growth and returns for our shareholders. I’m confident that this deal will help us to build on this legacy. Virgin Media and Liberty Global have a shared ambition, focus on operational excellence and commitment to driving shareholder value.â€Â
Virgin Media was created in February 2007 from NTL and Telewest, the final move in the consolidation of UK cable.
NTL was established in 1991 as an investment vehicle under the name International Cabletel. In 1996 it acquired National Transcommunications Limited (NTL), which had been formed out of the old Independent Broadcasting Authority engineering division and included the transmission business now known as Arqiva.
Telewest traced its routes back to 1984 and the United Artists cable network. It took on the Telewest moniker after the 1991 merger with US West (a US telco bought in 2000 by AT&T).
As of September 30, 2012, Virgin had 4,851,000 consumer cable customers.
Citaat:Liberty Global is om een ​​nieuwe UK plc te creëren als onderdeel van zijn $ 23.3billion (€ 17,23 miljard) overname van Virgin Media.
De contanten en aandelen deal heeft een waarde van 47,87 dollar per aandeel bieden, uitbreiding van Liberty Global's bereik tot meer dan 25 miljoen klanten, en cementeren haar positie als toonaangevende kabelexploitant van Europa.
Als onderdeel van de overname zal Liberty Global redomicile uit Delaware naar het Verenigd Koninkrijk door zich een dochteronderneming van een nieuwe holding, UK plc. Huidige hoofdkantoor Liberty Global's en andere hoofdkantoren zullen blijven bestaan.
Liberty's inhoud arm Chellomedia is al gevestigd in het zuidwesten van Londen.
Liberty Global zullen worden genoteerd aan de NASDAQ en de bestaande raad van bestuur zal het bedrijf blijven lopen met de toevoeging van een Virgin Media directeur. Een Europese lijst is eveneens in overweging.
Mike Fries, president en CEO van Liberty Global, zei: "Het toevoegen van Virgin Media om onze grote en groeiende Europese activiteiten is een natuurlijke uitbreiding van de waardecreatie strategie die we hebben met succes gebruik van meer dan zeven jaar. Virgin Media voegt aanzienlijke schaal en een eerste klas management team in de grootste en meest dynamische media in Europa en communicatie markt ".
Zodra de deal is goedgekeurd het grootste deel van Liberty Global's inkomsten komen uit vijf landen, het Verenigd Koninkrijk, Duitsland, Zwitserland, Nederland en België, waar Liberty momenteel in een worsteling om de volledige controle over de Telenet business.
Liberty Global heeft ook zeggenschap over de overgrote meerderheid van de kabelnetwerken in de Republiek Ierland.
De Maagd merk zal worden gehandhaafd in het Verenigd Koninkrijk, in plaats van het nemen van de UPC naam wordt gebruikt door Liberty Global op het continent.
Virgin Media CEO Neil Berkett zei: 'In de afgelopen zes jaar, Virgin Media heeft de digitale ervaringen van miljoenen klanten veranderd, gekatalyseerd een diepgewortelde verandering in digitale landschap van het Verenigd Koninkrijk en geleverd indrukwekkende groei en rendement voor onze aandeelhouders. Ik ben ervan overtuigd dat deze deal zal ons helpen om voort te bouwen op deze erfenis. Virgin Media en Liberty Global hebben een gedeelde ambitie, focus op operational excellence en de inzet om een ​​aandeelhouderswaarde. "
Virgin Media werd opgericht in februari 2007 van NTL en Telewest, de laatste stap in de consolidatie van de Britse kabel.
NTL is in 1991 opgericht als een investering voertuig onder de naam International Cabletel. In 1996 verwierf het Nationaal Transcommunications Limited (NTL), die was gevormd uit de oude Onafhankelijke Broadcasting Authority technische divisie en onder meer de transmissie bedrijf nu bekend staat als Arqiva.
Telewest getraceerd zijn routes terug naar 1984 en de United Artists kabelnetwerk. Het kostte de Telewest bijnaam na de 1991 fusie met US West (een Amerikaanse telco gekocht in 2000 door AT & T).
Per 30 september 2012, Virgin had 4.851.000 consument kabel klanten.
Liberty Global is to create a new UK plc as part of its $23.3billion (€17.23 billion) acquisition of Virgin Media.
The cash and stock deal is valued at $47.87 per share offer, extending Liberty Global’s reach to over 25 million customers, and cementing its position as Europe’s leading cable operator.
As part of the acquisition, Liberty Global will redomicile from Delaware to the UK by becoming a subsidiary of a new holding company, a UK plc. Liberty Global’s current headquarters and other principal offices will remain in place.
Liberty’s content arm Chellomedia is already based in south-west London.
Liberty Global will be listed on NASDAQ and the existing board will continue to run the company with the addition of one Virgin Media director. A European listing is also under consideration.
Mike Fries, president and CEO of Liberty Global, said: “Adding Virgin Media to our large and growing European operations is a natural extension of the value creation strategy we’ve been successfully using for over seven years. Virgin Media will add significant scale and a first-class management team in Europe’s largest and most dynamic media and communications marketâ€Â.
Once the deal is approved the majority of Liberty Global’s revenues will come from five countries; the UK, Germany, Switzerland, the Netherlands, and Belgium, where Liberty is currently in a tussle to take full control of the Telenet business.
Liberty Global also controls the vast majority of cable networks in the Republic of Ireland.
The Virgin brand will be maintained in the UK, rather than taking the UPC moniker used by Liberty Global on the continent.
Virgin Media CEO Neil Berkett said: ‘Over the past six years, Virgin Media has transformed the digital experience of millions of customers, catalyzed a deep-rooted change in the UK’s digital landscape and delivered impressive growth and returns for our shareholders. I’m confident that this deal will help us to build on this legacy. Virgin Media and Liberty Global have a shared ambition, focus on operational excellence and commitment to driving shareholder value.â€Â
Virgin Media was created in February 2007 from NTL and Telewest, the final move in the consolidation of UK cable.
NTL was established in 1991 as an investment vehicle under the name International Cabletel. In 1996 it acquired National Transcommunications Limited (NTL), which had been formed out of the old Independent Broadcasting Authority engineering division and included the transmission business now known as Arqiva.
Telewest traced its routes back to 1984 and the United Artists cable network. It took on the Telewest moniker after the 1991 merger with US West (a US telco bought in 2000 by AT&T).
As of September 30, 2012, Virgin had 4,851,000 consumer cable customers.