US cable giant Liberty Global is in talks with Dutch cable television company Ziggo about a possible takeover.

Ziggo said in a short statement on Thursday that it is ‘currently in discussions with Liberty Global regarding a potential offer for the company by Liberty Global.’

‘Further announcements will be made if and when relevant,’ the statement said.  ‘There is no certainty that any agreement can be reached or that any offer will ultimately be made.’

UPC

Liberty Global, which owns competitor UPC, owns 28.5% of Ziggo shares. Ziggo was founded five years ago following the merger of three separate cable operators and has 55% of the Dutch market. UPC has around 35%

In October Ziggo said it was not interested in a takeover because the preliminary proposal was ‘inadequate’.

If Liberty Global increases its shareholding to 30% it will have to make an offer for Ziggo under Dutch law. Confirmation of the talks sent Ziggo shares up 6% in early trading, the Financieele Dagblad said.