Liberty plunks down $5.2 billion for Germany's Unitymedia

Liberty Global's dream of gaining a bigger foothold in Germany's cable market is now coming true as the company reached a deal to purchase Unitymedia, the country's second largest cable operator, for $3 billion.

To fund the deal, Englewood, Colo.-based Liberty will acquire the shares from its parent Unity Media S.C.A., a firm currently overseen by private equity companies Apollo and BC partners. In addition, Liberty will assume $2.2 billion in debt.

Led by company chairman and cable magnate John Malone, Liberty's interest in the German and overall European cable market is nothing new. Malone made a failed effort to acquire Deutsche Telekom's cable TV properties in 2001.

Unitymedia has a number of attractive aspects for anyone that wants to get into the German cable market. As of the end of September, Unitymedia had almost 5 million subscribers throughout Germany's 10 largest cities, including Cologne, Duesseldorf and Frankfurt.

For more:
- CED via AP has this article

Related articles

Is WiFi the answer for cable companies?

Suggested Articles

Equinix has expanded the global reach of Oracle Cloud Infrastructure across five continents to help enterprise customers connect to Oracle Cloud.

Deutsche Telekom is folding parts of a slimmed-down T-Systems back into its corporate structure, according to Reuters.

Huawei has been temporarily suspended from membership in the Forum of Incident Response and Security Teams (FIRST.)