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?

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceTelecom!

The Telecom industry is an ever-changing world where big ideas come along daily. Our subscribers rely on FierceTelecom as their must-read source for the latest news, analysis and data on the intersection of telecom and media. Sign up today to get telecom news and updates delivered to your inbox and read on the go.

Suggested Articles

CyrusOne announced five new on-ramps to Google Cloud in order to provision direct connectivity for hybrid cloud deployments.

Verizon has bold ambitions to have its 5G Ultra Wideband enabled in 60 cities by the end of this year, but to do that it needs more fiber.

While Cisco has long dabbled in white box deployments as part of its network disaggregation efforts, it's not quite ready to jump in with both feet.