Refer to the input text as context and select the correct relationship between 'Telenet' and 'Base' from the available options.
Options: industry, business division, subsidiary, distributed by

-- Cable telecoms company Liberty Global (NasdaqGS: LBTYA - news ) 's Belgian subsidiary Telenet (Other OTC: TLGHF - news ) to buy mobile network operator Base from Dutch group KPN (notified Aug. 17/deadline Sept. 21)
subsidiary