Liberty Global revealed a public tender to buy out minority shareholders of Telenet attracted enough support to bring its ownership of the Belgian operator to 93.23 per cent, with the offer set to reopen for remaining stakeholders next month.
Its initial offer to buy outstanding shares in Telenet expired on 12 July. The Belgian company runs mobile operator Base.
The tender attracted commitments from investors to sell shares which would take Liberty Global just short of the 95 per cent ownership needed for a squeeze-out procedure to acquire the remainder.
Included in the shareholding figure is the almost 60 per cent Liberty Global controlled prior to the bid and treasury shares held by the operator following share buy-backs.
Transactions for the committed equity are expected to complete next week. The sale window on the same terms will reopen in late August for remaining shareholders to cash in their equity.