UPC snaps up Swiss network
October 9, 2013 09.20 Europe/London By Chris Dziadul
UPC CablecomUPC cablecom has acquired the 55% stake in Télélancy SA previously held by the Geneva municipality of Lancy for an undisclosed fee.
It is now the sole owner of Télélancy SA, which has 9,500 subscribers, the deal having been concluded at the beginning of this month.
UPC cablecom is Switzerland’s leading cable operator and in the past 18 months has taken over the networks Télémeyrin SA and Télécarouge SA in the French-speaking part of the country.
It has also entered into a purchase agreement for the complete take-over of 022 Télégenève SA-naxoo in the city of Geneva.
Lancy is the third largest Geneva municipality and François Lance, its mayor, is convinced that it is taking the right decision by handing full control of the cable network to upc cablecom.
Commenting on the deal, he said: “Our cable network is now in the hands of professionals who are in a position to develop it further under the best possible conditions.
“This sale will secure the future of our cable network. And customers will be able to benefit from first-rate products and services over the long term. The services of Lancy TV will also continue to be available to customers because they have been handed over to the private-law foundation, ‘Fondation Lancy médias’, which was founded by the town of Lancy in order to guarantee the continuation of local media and in particular local television.”