This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Liberty Global Announces Its Intention To Proceed With The Offer For Telenet At €35.00 Per Share While Removing The 95% Minimum Acceptance Condition

About Liberty Global

Liberty Global is the leading international cable company, with operations in 13 countries. We connect people to the digital world and enable them to discover and experience its endless possibilities. Our market-leading television, broadband internet, and telephony services are provided through next-generation networks and innovative technology platforms that connect 20 million customers who subscribe to 34 million services as of June 30, 2012.

Liberty Global’s consumer brands include UPC, Unitymedia, Kabel BW, Telenet and VTR. Our operations also include Chellomedia, our content division, UPC Business, a commercial services division and Liberty Global Ventures, our investment fund. For more information, please visit www.lgi.com.

 
1 The mid-point DCF model is based on a weighted average cost of capital of 7.9% and a perpetuity growth rate of 1.5%.
2 As adjusted for the €3.25 capital reduction paid by Telenet on August 31, 2012.
3 The enterprise value implied by the Intended Offer represents a multiple of 9.1x Telenet’s estimated Adjusted EBITDA and 15.7x Telenet’s estimated Adjusted EBITDA less estimated accrued capital expenditures for 2012. Telenet’s Adjusted EBITDA and accrued capital expenditures (each as customarily defined by Telenet) are based on financial projections approved by the Telenet Board in May 2012 (which are consistent with Telenet’s most recently published guidance for 2012) and are prepared based on International Financial Reporting Standards as adopted by the European Union (“EU IFRS”).

4

The Ziggo, Virgin Media Inc. (“Virgin Media”) and Kabel Deutschland Holding AG (“KDH”) enterprise values are based on the share price for each company as of September 19, 2012 and financial statements prepared in accordance with EU IFRS for Ziggo and KDH and US GAAP for Virgin Media. EBITDA (earnings before interest, taxes. depreciation and amortization), or in the case of Virgin Media, “operating cash flow”, and capital expenditures estimates of Ziggo, Virgin Media and KDH are based on Bloomberg equity research analysts’ consensus as of September 19, 2012.

5

The comparable quoted cable operators include Ziggo, Virgin Media and KDH.





Stock quotes in this article: LBTYA, LBTYB, LBTYK 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,501.65 -12.72 -0.08%
S&P 500 1,875.39 -4.16 -0.22%
NASDAQ 4,126.9670 -34.4910 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs