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.

  • 28 Mar 2013

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.

It ...

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