Shearman & Sterling advised Liberty Global plc in the announcement of its intention to launch, through its wholly-owned subsidiary Liberty Global Belgium Holding B.V., a voluntary and conditional public takeover bid for all of the shares of the Belgium carrier Telenet Group Holding NV that Liberty Global Belgium Holding does not already own or that are not held by Telenet. Liberty Global Belgium Holding has been the controlling shareholder in Telenet since February 2007 and currently owns 59.18 percent of Telenet’s outstanding issued share capital.
Telenet Group Holding NV is the largest provider of cable broadband services in Belgium. Liberty Global is a world leader in converged broadband, video and mobile communications services, providing over 86 million fixed and mobile connections across Europe and the United Kingdom.
The transaction was announced on March 21 in a press release.