Liberty (LBTYA) Takes Large Stake in Netherlands-Based Ziggo NV

Liberty Global (Nasdaq: LBYTA) is said to have acquired a 12.7 percent stake in Ziggo NV from Barclays (NYSE: BCS), Bloomberg reports Thursday.

Sales price on the stake was €632.5 million (about $807 million), valuing the Dutch cable-TV provider at €4.98 billion.

The move comes as Barclays failed to find buyers in a share sale last week, when it managed a sale for private equity firm Warburg Pincus and Cinven Ltd.

Liberty, run by sagacious Liberty Media (Nasdaq: LMCA) chairman John Malone, is moving to expand its presence in Europe following last month's $16 billion acquisition of Virgin Media (Nasdaq: VMED). The company has a current Netherlands presence with Ziggo rival, UPC Broadband Holding BV.

Shares of Liberty are up 0.7 percent early Thursday.

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