IDT Buys Teligent Stake From Liberty Media
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Liberty Media Group received $37.5 million in stock for a stake in Teligent Inc. that was originally valued at almost $1.4 billion.
The purchase price, disclosed by buyer IDT Corp. in a regulatory filing, underscores how far Teligent has fallen since Liberty Media acquired 21.4 million Class A common shares in January of last year. Since that time, the value of shares in the Vienna, Va., telecommunications company has declined 99%.
Liberty Media Chairman John Malone invested in Teligent to foster technologies to help deliver the Englewood, Colo., company’s content to customers, said Stuart Linde, an analyst at Lehman Bros. Holdings Inc.
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