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Liberty Global increases ITV stake to 9.9%

Liberty Global increases ITV stake to 9.9%
Staff Reporter
31 July 2015

Liberty Global, the owner of Virgin Media, has raised its stake in ITV to 9.9%.

Liberty took a 6.4% stake in ITV a year ago.

CEO Mike Fries said: “Given ITV's operating and stock price performance, we were able to increase our stake to 9.9% with no incremental investment by hedging our existing equity position. This investment remains an opportunistic one for us in our largest market. ITV is a well-run company with attractive growth potential, and we are pleased to increase our position as their largest shareholder.”
Liberty Global added that it did not intend to make an offer to acquire ITV.

Shares in ITV, which reported a 25% increase in first-half pretax profit on Tuesday, have risen by 57% since Liberty bought its initial stake.

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