Stofa takes a chunk of Canal Digital Denmark
17.39 Europe/London, November 1, 2011 By Julian Clover
In a near-reversal of a previous deal cablenet Stofa has purchased part of Canal Digital’s Danish cable business.
The DKK 51 million agreement sees Stofa acquire 31 cable networks, while Canal Digital Denmark retains its antenna business, which sells directly to the housing market. Stofa’s new networks represent approximately 20,000 TV customers, about 20,000 Internet customers and 6,300 customers with Internet telephony (VoIP).
“We have a clear strategy to make Stofa both bigger and stronger. Therefore, we are obviously very pleased that we have been able to complete this transaction, says Stofa CEO Klaus Høeg-Hagensen. “With this purchase, we increase our volume and thus our ability to act on the Danish cable TV market, where we will still focus on being first challenger to the former monopolies. We are allowed some obvious economies of scale that will ultimately benefit our clients”
In July, plans for Canal Digital to acquire the Ratos-owned cable TV operation were dropped after it became clear the chances of approval from the Danish competition authorities was low.