They had played down speculation of a takeover last month - the investment hit the share price of Liberty Global, and shareholders weren't happy at the prospect of a takeover. It appears they're playing the long game, and even then it may come to nothing.
Meanwhile in other Liberty Global news, UPC Ireland is to effectively become a subsidiary of Virgin Media as of 1st December. UPC Ireland's managing director Magnus Ternsjö will join the Virgin Media management team and report to Virgin Media chief executive Tom Mockeridge. No doubt starting a process which will lead to the reintegration of the two companies which once formed part of NTL.