UCOMA UnitedGlobalCom Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : UCOMA UnitedGlobalCom

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Katie Kommando who wrote (458)	6/28/2000 1:02:00 AM
From: Katie Kommando	Read Replies (1) of 489

June 26, 2000 Dow Jones Newswires Liberty: "Can't Understand" Low United Global Shr Price Dow Jones Newswires AMSTERDAM -- Liberty Media Group (LMGB) valued UnitedGlobalCom Corp. (UCOMA) at $70 per share in its purchase of 75.3 million shares announced earlier Monday. Speaking at a telephone press conference, Liberty chief executive Robert Bennett said that Liberty put UnitedGlobal's value at $70 based on a sum-of-the-parts valuation of UnitedGlobal's current assets, even though the shares closed at $43.56 on Friday. "We can't undertand why (such a large) discount would prevail," Bennet said. He said Liberty was "quite comfortable" with the amount it paid for UnitedGlobal's shares, since the valuation didn't take into account the ability of UnitedGlobal's management "to create value." - - 26/06/00 15-26G At the same conference, United Pan-Europe Communications NV (UPCOY) chief executive Mark Schneider said that he hoped to either increase UPC's 25% interest in Telewest PLC (TWSTY) of the U.K. to a controlling interest, or to "deepen" the two companies' strategic relationship to include partnerships in Internet access provision and distribution of television programming. As part of the deal between Liberty and UnitedGlobal, Liberty transferred its 25% stake in Telewest to UnitedGlobal. The stake was then sold to UPC in exchange for 128 million newly issued UPC shares. As a result, UnitedGlobal's stake in UPC increased to around 61% from 51%. Schneider also said that UPC will make an announcement about the twice-postponed public listing of its high-speed Internet access division Chello Broadband NV (CHLO) by next week at the latest. UPC has said in the past that the reason Chello's listing has been postponed is that either Chello, UPC or UPC's parent UnitedGlobal is in strategic talks with at least two partners that may have a profound impact on Chello's future prospects. UPC confirmed earlier Monday that Liberty was one of those partners and that other talks are continuing. -By Toby Sterling; Dow Jones Newswires; +3120-626-0770; toby.sterling@Dowjones.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next