Liberty deal for Ziggo frees Barclays
Barclays on Thursday escaped from a €632.5m, 12.6% position in Ziggo that it acquired when a block trade went wrong as Liberty Global took out the shares at or very close to the bank’s in-price. It was probably involved in financing the deal but others have also been queuing up to be involved since the ABB, said one bank’s head of syndicate.
Liberty paid 25.00 a share for the 25.3m shares, most of the disclosed 26.9m Barclays Capital holding (Barclays Bank held 1.6m shares, presumably pre-ABB).
That compared to the bottom-of-the-range 25.05 that Barclays had launched the 40m share block at, and the 23.79-25.15 trading range in the subsequent days.
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