John Malone’s Liberty Media International, the largest owner of cable-television systems outside the US, will acquire the remainder of UnitedGlobalCom for about $3.65 billion to create a single business to be called Liberty Global.

Liberty Media International previously owned a 53 percent stake in UGC with control of 90 percent of the voting shares.

The international holdings company was spun off from Liberty Media Corp in June 2004.

John Malone, chairman of LMI said the new name of the company demonstrated that he viewed the transaction “as a merger of equals creating one of the largest broadband services companies outside the United States”.