Liberty owns the other major Dutch cable provider, UPC, and plans to merge into a dominant cable company that would cover 90 per cent of Dutch households. The management-supported deal announced Monday must be approved by regulators.
UPC and Ziggo argue competition also comes from mobile Internet and providers of ADSL, or high-speed Internet access.
Liberty's offer represents around 34.53 euros per Ziggo share. That's not far above the 33.25 that they closed at Friday, but represents a 22 per cent premium to their closing price on Oct. 15, the day before the companies announced they were in takeover talks.