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Friday, November 13, 2009
Liberty Global Acquires German Cable Operator
FOXBusiness
Cable network operator Liberty Global (LBTYA) announced its acquisition of Unitymedia on Friday. Unitymedia is the second-largest cable network provider in Germany, allowing U.S. based Liberty Global to enlarge its international territories.
Owned by BC Partners and Apollo Management, Unitymedia was considering an IPO before the deal took place. Liberty Global will pay EUR2 billion for the company, and assume debt worth EUR1.5 billion.
Unitymedia had 4.5 million cable subscribers as of October 1.The deal is expected to close in the first half of 2010, and is still subject to regulatory approval.
