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Liberty launches $2.6 billion bid for remainder of Belgium's Telenet

  • U.S. based cable operator Liberty Global has launched a $2.56 billion bid for the shares in Belgian peer Telenet it does not already own.

    Liberty already owns 50.4 percent of the group and has been its controlling shareholder February 2007.

    In a statement, Liberty said that the offer price of $45 per share represented a 14 percent premium over the average closing price over the past month.

    The company's shares closed at $40.31 on Wednesday.