GIMV sells Telenet shares

GIMV is selling a minimum of 8,910,129 and a maximum of 9,109,473 Telenet shares following its IPO. The combination of the shares sold by GIMV as well as the share options means a total increase in value for GIMV of €155.9m, of which €106.9m are realised and €49m are unrealised, based on the closing price of Telenet shares on October 11 of €19.10 per share. The sale has an immediate cash impact for GIMV of €187.1m

GIMV held a total of 12,913,893 Telenet shares before the IPO.

Telenet was founded in 1996 with start-up capital from GIMV. Other shareholders include Flemish local government companies and US cable operator Liberty Media, which recently bought Cablecom, a Swiss peer, for US$2.2bn.