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Liberty ties up Virgin deal

International cable operator Liberty Global has completed its acquisition of UK cable company Virgin Media, in a deal valued at £15bn (US$23.3bn).

Tom Mockridge

Tom Mockridge

The takeover, which was approved by the EU’s antitrust authority in April, means US cable group Liberty will become the UK’s second-biggest pay TV firm after BSkyB.

The merger was formally completed today, following shareholder approval, and comes on the same day that Tom Mockridge started work as Virgin Media’s new CEO.

The former News International chief executive is joined by former UPC Ireland MD Dana Strong, who has been appointed as the company chief operating officer. Robert Dunn, the former MD of Dutch cable operator UPC Netherlands, becomes the company’s new chief financial officer.

Mike Fries, president and CEO of Liberty Global, said: “Together, we now provide over 47 million video, voice and broadband services to 25 million customers located principally in 12 European countries.”

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