REG - Liberty Global PLCBritish Sky Broad.ITV PLC - Liberty Global Acquires a 6.4% Stake in ITV <Origin Href="QuoteRef">BSY.L</Origin> <Origin Href="QuoteRef">ITV.L</Origin>

ITVAnnouncement

06/09/2014 16:46

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RNS Number : 5760M
Liberty Global PLC
17 July 2014 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION 
 
Liberty Global Acquires a 6.4% Stake in ITV, the Leading Commercial
Broadcaster in the U.K. 
 
Denver, Colorado - July 17, 2014: 
 
Acquisition of ITV Shares 
 
Liberty Global plc ("Liberty Global" or the "Company") (NASDAQ: LBTYA, LBTYB
and LBTYK) announced today that it has acquired 259.8 million shares in ITV
plc ("ITV") from British Sky Broadcasting Group plc for total consideration of
approximately GBP 481 million. As a result of this investment, Liberty Global
will own approximately 6.4% of ITV. 
 
Mike Fries, Liberty Global's Chief Executive Officer, commented "This is an
opportunistic and attractive investment for us in our largest cable market.
ITV is the leading commercial broadcaster in the U.K. and we're excited to be
shareholders." 
 
Liberty Global intends to finance the acquisition of ITV shares through a
combination of a loan linked to a hedging transaction that would be secured by
ITV shares and existing liquidity. With this level of investment, no
regulatory approvals are required. 
 
U.K. Takeover Code Note 
 
Liberty Global confirms that it does not intend to make an offer to acquire
ITV. 
 
Although Liberty Global does not intend to make such an offer, for the
purposes of Rule 2.8 of the City Code on Takeovers and Mergers (the "Code"),
Liberty Global does reserve the right, in the circumstances set out in Note 2
to Rule 2.8 of the Code or with the consent of the Takeover Panel, to announce
an offer or possible offer or make or participate in an offer or possible
offer for ITV (and/or take any other action which would otherwise be
restricted by Rule 2.8 of the Code) within the next six months following the
date of this announcement. A copy of this announcement will be made available
on Liberty Global's website. 
 
About Liberty Global 
 
Liberty Global is the largest international cable company with operations in
14 countries. We connect people to the digital world and enable them to
discover and experience its endless possibilities. Our market-leading
triple-play services are provided through next-generation networks and
innovative technology platforms that connected 25 million customers
subscribing to 49 million television, broadband internet and telephony
services at March 31, 2014. 
 
Liberty Global's consumer brands include Virgin Media, UPC, Unitymedia, Kabel
BW, Telenet and VTR. Our operations also include Liberty Global Business
Services, our commercial division and Liberty Global Ventures, our investment
fund. For more information, please visit www.libertyglobal.com or contact: 
 
Investor Relations 
 
Christopher Noyes         +1 303 220 6693 
 
Oskar Nooij                   +1 303 220 4218 
 
John Rea                       +1 303 220 4238 
 
Corporate Communications 
 
Marcus Smith                +44 20 7190 6374 
 
Bert Holtkamp               +31 20 778 9800 
 
Hanne Wolf                   +1 303 220 6678 
 
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