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Liberty Global ‘ups Ziggo stake’

Liberty Global has increased its stake in Dutch cable operator Ziggo from 12.65% to 15% according to Dow Jones’ newswires.

The increase, revealed in a filing with Dutch stock market regulator AFM today, comes after Warburg Pincus completed its exit from ownership of Dutch cable operator Ziggo last week.

The private equity groups sold its remaining shares in the firm in an accelerated bookbuild exercise, raising €329 million (US$430 million), following further sell-downs in July and October 2012 and March this year.

Liberty Global paid roughly €632.5 million for a 12.65% stake in Ziggo last month, claiming at the time that the acquisition was an “attractive opportunity” to make a strategic investment in a market where it already has a strong presence through its UPC Netherlands subsidiary.