Vodafone Nederland and Ziggo are merging to form a single joint venture, Ziggo owner Liberty Global announced on Monday evening. By merging the companies aim to create "a stronger fixed and mobile competitor in the Dutch market", with Ziggo's broadband network and Vodafone's mobile operations.
Ziggo owner Liberty Global withdrew from the bidding process to merge with T-Mobile. At the same time, Vodafone released a press statement announcing a possible merge between Ziggo and Vodafone Nederland
Several months after the merger of Ziggo and UPC, customers are still jumping ship amid reports of technical issues. The company has lost another 87,000 clients in the second quarter of the year, a 0.7 percent decrease that should cost the firm around 4.2 million euros.
Vodafone and Liberty Global, both based in London, are discussing possible transactions which include a merger, reports Bloomberg Business. A merger between the two companies would be another step in the growing consolidation in the telecommunications industry.
Ziggo and UPC lost around 50,000 customers in the first three months of this year. This was largely a result of the merger between the two companies, reported Ziggo at the presentation of the first quarter results on Friday.
The merger of UPC and Ziggo into one network provider has not been without complications. A survey of 3,000 Ziggo clients revealed that a quarter of subscribers have since experienced problems watching television, reports de Volkskrant.
The Netherlands' largest cable operator, Ziggo, is dropping 450 employees in its merger with Dutch cable company UPC, NOS reports. Several hundred temporary workers, freelancers, independent contractors and third-party hires will also be let go.
About 900 jobs will disappear with the merger of cable operators Ziggo and UPC Netherlands in November. This is about 20 percent of the total number of employees.
The cable group Liberty Global has received approval from the European Commission for the acquisition of Ziggo, the largest cable television operator in the Netherlands.
A Judge in The Hague had ruled that ISP's in the Netherlands should unblock The Pirate Bay.
As expected, Liberty Global has signed an agreement to acquire Dutch cable company Ziggo in a deal valued at about €10 billion.
Liberty Global, which owns UPC cable group in the Netherlands, is offering €34.53 a share for Ziggo.
Under the agreement, Ziggo shareholders will receive €11 in cash, 0.2282 class A ordinary shares and 0.5630 class C ordinary shares of Liberty Global for each Ziggo share, according to a news release.
Cable company Ziggo recorded an exponential profit increase of 80 percent, 347 million euros, over 2013.
Liberty Global is close to finalizing an agreement to acquire Dutch broadband provider Ziggo, Bloomberg News reported citing people with knowledge of the matter.
Dutch cable group Ziggo said it is in discussions with American cable company Liberty Global about a potential takeover.