Cable Concern Liberty Global has received approval from the European Commission for the acquisition of Ziggo, the largest cable television operator in the Netherlands.
Liberty Global should. few commitments Thus American company sells originate movie channel Film1 and get the clauses of contracts that a range of broadcasters and TV stations impede on the Internet. In new contracts, these clauses will not be recorded. Least eight years Liberty must also offer sufficient capacity for its network Internet content, such as Netflix parties. Pay-TV Film1 be divested because Ziggo already has an alliance with HBO. Liberty likes his pay channel Sport 1
Fist
De European Commission announced its approval on Friday. Liberty, in the Netherlands already owns UPC, showed late January intention to buy. Ziggo The offer valued time Ziggo approximately € 10 billion. Together, the companies on the Dutch market, a fist against KPN. UPC and Ziggo have a network that covers approximately 90% of the Netherlands. Together they deliver TV range 60 to 70% of households.
“The commitments that Liberty Global has done, make sure Dutch consumers do not will suffer the acquisition of Ziggo ‘says Commissioner Joaquín Almunia. “When viewing audiovisual content, they will continue to enjoy the benefits of innovative services and innovative offerings.”
The acquisition is approval from Brussels is not yet complete. The offer for Ziggo runs until November 4th.
Integration
Liberty Global and Ziggo worked in recent months to an integration plan. Expected to join forces is accompanied by job losses, because there is overlap in roles at both companies, for example in the field of marketing and financial column. It is still unclear how many jobs are disappearing. Liberty and Ziggo in January the total synergies estimated at € 1.3 billion. On an annual basis is about € 160 million, to be realized from 2018.
The new company, which goes by the name Ziggo, becomes separated from UPC CEO Baptiest Coopmans. headed He worked in the past for KPN. Bert Groenewegen the cfo. This position he already holds at Ziggo.
Read the response KPN
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