Virgin Media Inc. Liberty Global Completes Acquisition of Virgin Media
June 07 2013 - 11:21AM
UK Regulatory
TIDMVMED
Liberty Global Completes Acquisition of Virgin Media
Powerful combination creates the world's leading broadband
communications company
Denver, Colorado - June 7, 2013: Liberty Global plc ("Liberty
Global") (NASDAQ: LBTYA, LBTYB and LBTYK) today announced that,
following shareholder approvals, regulatory approvals and other
customary closing conditions, it has completed the previously
announced acquisition of Virgin Media Inc. ("Virgin Media")
(NASDAQ: VMED; LSE: VMED) in a stock and cash merger valued at
approximately $24 billion.
Mike Fries, President and CEO of Liberty Global, said, "This is
a great day for customers, employees and shareholders of both
Liberty Global and Virgin Media. Together we now provide over 47
million video, voice and broadband services to 25 million customers
located principally in 12 European countries. With superior network
capacity, the fastest broadband speeds and innovative digital TV
platforms, we've never been more excited about the growth potential
and strategic direction of our business. Virgin Media will continue
to thrive under the leadership of Tom Mockridge who starts as CEO
today, with the support of a fantastic management team which
includes both Liberty Global and Virgin Media executives."
Tom Mockridge, CEO of Virgin Media, said, "Virgin Media has
become one of the UK's most powerful media brands thanks to both
the loyalty of its customers and the energy of its employees. I am
fortunate to be joining the company at this important inflection
point in its development, and look forward to working closely with
Mike and the broader Liberty Global team to deliver cutting-edge
products and services that excite and inspire our customers."
As a result of the closing, Liberty Global, a public limited
company organized under the laws of England, has become the new
public parent company of Liberty Global, Inc. and Virgin Media.
Liberty Global's Class A, Class B and Class C ordinary shares will
begin trading on the NASDAQ Global Select Market on June 10, 2013
under the same symbols: LBTYA, LBTYB and LBTYK. The shares of both
Liberty Global, Inc. and Virgin Media will cease trading at market
close on June 7, 2013 and will be deregistered under securities
laws. The listing of Virgin Media's common stock on the Official
List and the admission of those shares to trading on the Main
Market of the London Stock Exchange will be cancelled with effect
from 8:00 A.M. London time on June 10, 2013.
About Liberty Global
Liberty Global is the largest international cable company with
operations in 14 countries. We connect people to the digital world
and enable them to discover and experience its endless
possibilities. Our market-leading triple-play services are provided
through next-generation networks and innovative technology
platforms that connect approximately 25 million customers
subscribing to over 47 million television, broadband internet and
telephony services.
Liberty Global's consumer brands include Virgin Media, UPC,
Unitymedia, Kabel BW, Telenet and VTR. Our operations also include
Chellomedia, our content division, Liberty Global Business
Services, a commercial division and Liberty Global Ventures, our
investment fund.
For more information, please visit www.libertyglobal.com or
contact:
Investor Relations: Corporate Communications:
Christopher Noyes +1 303 220 6693 Marcus Smith +44 20 7190 6374
Oskar Nooij +1 303 220 4218 Bert Holtkamp +31 20 778 9800
John Rea +1 303 220 4238 Hanne Wolf +1 303 220 6678
This information is provided by Business Wire
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