Malone's Liberty Global said approaching deal to buy Ziggo

FILE -- John Malone of Liberty Global (John Leyba, Denver Post)

Liberty Global PLC is putting the final touches on an acquisition of Dutch broadband provider Ziggo NV as the cable company expands its European operations, according to people with knowledge of the matter.

Liberty Global, controlled by Colorado billionaire John Malone, and Ziggo aim to announce a friendly deal as early as the middle of this month, and are hammering out a final acquisition price and other terms, the people said, asking not to be identified discussing private negotiations.

Ziggo's shares rose 3.6 percent in Amsterdam to 33.77 euro, valuing the company at about 6.75 billion euro or $9.2 billion.

Outstanding issues include determining whether Ziggo chief executive officer Rene Obermann, a former CEO of Deutsche Telekom AG who started this month, will stay at the Dutch company if it is bought by Liberty, the people said. Liberty Global already owns about 30 percent of Ziggo, which it has gradually amassed. The companies are also discussing how to protect jobs once Ziggo's operations are combined with Liberty Global's existing Dutch unit, UPC, the people said.

Malone has built a European cable and broadband empire through acquisitions in countries including the U.K. and Germany.

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Malone's Liberty Global said approaching deal to buy Ziggo