Shareholders reduce stake in Ziggo

Shareholders of Dutch cable operator Ziggo have sold a further 14.5% stake in the company during a second public offering.

Warburg Pincus and other investors have completed the placement of a further 29 million ordinary shares of Ziggo at a price of €23.50 per share, resulting in cash proceeds of €255 million for Warburg Pincus.

In total, Warburg Pincus has raised over €590 million from selling shares in Ziggo and continues to retain a stake of over 22%.

The move follows an IPO in March, when Warburg Pincus and Cinven sold 25% of the operator.