Ziggo Rejects John Malone’s Bid As ‘Inadequate’

Ziggo NV (AMS:ZIGGO) (OTCMKTS:ZIGGY) has rejected a bid from John Malone’s Liberty Global, calling it “inadequate” and saying that they aren’t sure if another, higher bid will be forthcoming, reports Amy Thomson for Bloomberg. Ziggo’s stock price went up 6.7 percent following the announcement, its biggest gain in the last six months.

Liberty Global’s stakes in Ziggo

Liberty Global, which owns 28.5 percent of Ziggo NV (AMS:ZIGGO) (OTCMKTS:ZIGGY), bought Virgin Media Inc. (NASDAQ:VMED) (LON:VMED) earlier this year for $16 billion and made an offer on Kabel Deutschland Holding AG (OTCMKTS:KBDHF) (ETR:KD8) (FRA:KD8), though it was outbid by...