UK: Liberty Global nabs assets from BSkyB

Liberty Global has boosted its presence in the UK with a recent acquisition of a 6.4 percent stake in free-to-air broadcaster ITV, say reports.

Liberty Global, which is in the midst of pursuing a takeover of Germany cable giant Ziggo, reportedly bought the ITV shares from BSkyB in a deal worth about $823 million. The UK stands as Liberty Global’s largest market, and the company called the latest a deal an “opportunistic and attractive investment.”

The former Competition Commission ruled in 2007 that BSkyB had to reduce its stake in ITV; BSKyB appealed the order but it was held up in 2010 after several appeals.

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