Kabel Deutschland supports industry consolidation
Jörn Krieger ©RapidTVNews | 13-10-2011 Germany's largest cable operator Kabel Deutschland welcomes the planned acquisition of the third-largest market player Kabel BW by US media company Liberty Global.
"We need competition at eye level with Deutsche Telekom," CEO Adrian von Hammerstein told German financial newspaper "Handelsblatt".
The cable company would see the planned purchase positively as the move would strengthen competition between infrastructures, von Hammerstein explained, adding that consolidation in the cable market would therefore make sense.
Liberty Global announced in March 2011 to take over Kabel BW for around €3.16 billion from Swedish financial investor EQT. The US company already acquired cable operator Unitymedia in November 2009. With the move, Germany's second and third largest cable companies would be in one hand.
The German cartel office Bundeskartellamt is currently investigating the plans in an in-depth probe. A decision is expected by mid-November 2011.