Liberty to acquire German cable firm for $4.5 billion

MUMBAI: Liberty Global has entered into an agreement to acquire Kabel BW Erste Beteiligungs GmbH, the third largest cable TV operator in Germany controlled by EQT Funds IV and V.

Liberty Global will acquire KBW through a series of transactions for a total consideration of nearly $4.48 billion, excluding transaction costs. The transaction is subject to regulatory approval and is expected to close in the second half of 2011. 
Liberty Global president and chief executive officer Mike Fries says, “(After this deal) Germany will become our largest European market and a key driver for continued innovation in next generation broadband and digital TV services. In addition, we strongly believe that this will enhance competition in the German marketplace and provide significant benefits to customers who are increasingly demanding faster and more reliable access to broadband services.”

Goldman Sachs and Freshfields are advising Liberty Global in connection with this acquisition.

EQT has decided that KBW and its holding company will immediately undergo a recapitalisation, in which it is targeting to issue approximately $3.19 billion in new debt financing. The new capital structure will be assumed by LGI upon completion of the transaction.

Fries also said that this deal will give Liberty further access to one of the fastest-growing cable markets in Europe.

Fries concluded, “We are impressed by the successful business built by KBW’s management team and by their dedication to excellence across all areas of their operation. KBW is well-positioned for continued growth and will complement our existing European operations, as we look to leverage the scale of our global platform for the benefit of German consumers and create long-term value for our shareholders."
KBW provides television, broadband Internet and telephony services in the German federal state of Baden-Württemberg.

As of 31 December 2010, KBW’s broadband communications network passed 3.7 million homes and served 2.4 million customers who subscribed to 3.9 million basic cable, pay TV, telephony and broadband Internet services.

Latest Reads
Livestreaming App SWOO sees momentum in India; Launches Trivia Format in India

SWOO, a leading global livestreaming platform established in Middle East, today announced the launch of its SWOO TRIVIA SHOW – a celebrity hosted live video streaming game show for Indians. SWOO is a user friendly, engaging and feature-rich live broadcasting app available across Android/ iOS/ Web...

Technology Software Applications
TiVo exits STB business

MUMBAI: TiVo is exiting the manufacturing, sales and distribution of set-top boxes to a yet-undisclosed third party, the company has said.

Technology Hardware Set-top Boxes
IET India IoT Panel joins hands with exhibitions india group for the 3rd edition of IoT india congress

IoT India Congress is India’s Platform of Platforms for the Internet of Things conceptualized by IET India IoT Panel, a think tank constituted by the Institution of Engineering and Technology (IET) India. The 3rd edition of IoT India Congress will be hosted in collaboration with India’s leading...

Technology Software Firmware
Tata Elxsi's Automation suite adopted by pan-European Media and Telecommunications Company

Tata Elxsi, a global design and technology services company, announced the licensing of its integrated test automation and monitoring suite ‘FalconEye’ to a pan-European media and telecommunications company for OTT automation and improving streaming performance.

Technology Software Firmware
Verimatrix recognized for contributions to latin american Pay-TV market with PRODU award win at NAB Show

LAS VEGAS: Verimatrix, a specialist in securing and enhancing revenue for network-connected devices and services, has received the PRODU Award for Best Pay-TV Technology Contribution on behalf of its MultiRights™ OTT solution. MultiRights helps service providers effectively navigate the modern OTT...

Technology Software Firmware
Amagi debuts machine-learning powered content-preparation suite

Amagi, a cloud-based technology provider for media processing, has launched Tornado, a machine learning-based content preparation service that enables TV networks and content owners to scale their operations and accelerate broadcast workflows.

Technology Hardware Components
Sharp and TiVo extend interactive program guide deal to power content Discovery across entertainment devices

MUMBAI: TiVo Corporation (NASDAQ: TIVO), a global leader in entertainment technology and audience insights, today announced that Sharp Corporation will further utilize TiVo’s G-Guide HTML across Sharp 4K smart TVs and Ultra HD Blu-ray recorders in Japan, TiVo’s G-Guide xD app and remote schedule...

Technology Hardware Components
HARMAN announces Priyanka Chopra as global brand ambassador

HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd. focused on connected technologies for automotive, consumer and enterprise markets, today announced that actress, singer, producer and philanthropist Priyanka Chopra has been named a global brand ambassador for the...

Technology Hardware Components
Etere HSM expands interoperability with Grass Valley

Etere HSM features an integration with Grass Valley that improves interoperability, streamlines connectivity, enables faster content processing and includes deep archive capabilities. Etere introduces a new integration layer between Etere Hierarchical Storage Management (HSM) and Grass Valley...

Technology Hardware Components

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories