KDG welcomes cable sale
Monday, 16 November 2009 20:16
Germany’s largest cable company, Kabel Deutschland (KDG), has welcomed the sale of Unitymedia to US media concern Liberty Global owned by John Malone.
“The purchase of Unitymedia by such an experienced and internationally active cable and media professional as John Malone underlines the attractiveness and further growth potential of German cable operators,” said Adrian von Hammerstein, CEO of KDG, to economics magazine Euro am Sonntag. He stressed that KDG, which is owned by financial investors, would be open for strategic investors as well. “The participation of a strategic investor is absolutely conceivable as an alternative to a stock market flotation.”
Von Hammerstein affirmed that KDG was ready for the stock market and that conditions for an IPO were better today than six months ago. “However, there is nothing concrete to say at the moment.”
On Friday Liberty Global announced its takeover of Unitymedia, the second largest cable company in Germany after KDG, for €3.5 billion. The planned float was consequently cancelled.