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Liberty may spin off non-U.S. holdings

Tue, 05/20/2003 - 8:00pm
Staff

Copyright 2003 The Times Mirror Company; Los Angeles Times

All Rights Reserved

Los Angeles Times

May 21, 2003 Wednesday Home Edition

Liberty Media Corp. said it might spin off its non-U.S. investments into a new company to help finance acquisitions.

Liberty's overseas investments include a 44 percent stake in Jupiter Telecommunications Co., Japan's largest cable television provider. Liberty's UnitedGlobalCom Inc. unit will own a 66 percent stake in Dutch cable provider United Pan-Europe Communications after a planned bankruptcy reorganization of United Pan-Europe.

Shares of the company that Liberty may spin off would be offered to Liberty shareholders, letting them benefit from acquisitions overseas without Liberty's having to take on more debt, Chief Operating Officer Gary Howard said.

— From Bloomberg News

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