Liberty Media to acquire Unitymedia?
Thursday, 12 November 2009 19:52
US-based media company Liberty Media is apparently on the verge of taking over German cable operator Unitymedia. Negotiations are close to being finalised, an investment banker involved in the sale told German business magazine Wirtschaftswoche.
According to the source, financial investors BC Partners and Apollo Management, which own Unitymedia, want to dispose of all their shares. “The possibility that the sale will take place stands at more than 50%,” the banker said, adding that the originally-planned flotation would be cancelled.
With 4.6 million customers, Unitymedia is Germany’s second largest cable operator after Kabel Deutschland. In German-speaking Europe, Liberty Media already owns UPC and Cablecom, the largest cable operators of Austria and Switzerland. With the acquisition of Unitymedia, the company headed by US billionaire John Malone would gain a significant foothold in Germany.