Boston, MA 09/03/2014 (wallstreetpr) – Liberty Global plc – Class A Ordinary Shares (NASDAQ:LBTYA) is interested in making another media acquisition in Europe. This time around the multinational corporation is said to be targeting ITV, a British media company. Liberty is said to be seeking the support of major shareholders in ITV to make its acquisition dream come true.
Major shareholders involved
As concerns shareholder backing, Liberty is reported to be in talks with such investors as BlackRock, Inc. (NYSE:BLK), Fidelity and Brandes. The three investors are reported as owning 4.9%, 8% and 4.8% interests, respectively in ITV. Given their big positions in the business, their support for Liberty’s acquisition bid is highly valuable. It is reported that Liberty has offered as much as 10 billion pounds to purchase ITV. Takeover rumors help send shares of ITV to their highest level since 2011.
Liberty Global plc (NASDAQ:LBTYA) has a big interest in telecom and television segments, and it has made a number of popular acquisitions in the segments in the recent past. The company acquired Virgin Media, another U.K-based media group. The acquisition of Virgin Media cost the company 15 billion euros, and the deal was sealed in June 2013. The acquisition of Virgin Media not only helped Liberty to strengthen its foothold in the European media market, but also appears to have increased its interest in Europe.
Acquisition spree in Europe
Perhaps that could be explained by the several deals that Liberty Global plc (NASDAQ:LBTYA) has made in Europe this year. For example, the company offered 4.9 billion euros to buy Ziggo NV, a Netherlands-based cable company, in a deal that is expected to be closed this year. The company earlier in the year increased its stake to $58% from $50% in Telenet Group Holding, a Belgium-based company.
As if that is not enough, Liberty Global plc – Class A Ordinary Shares (NASDAQ:LBTYA) also teamed up with Discovery Communications to takeover All3Media for 550 million pounds, in a deal made this year.