Telenet signs final Interkabel acquisition agreement

The Belgian cable operator Telenet has signed a final agreement with the municipal cable operators and their joint venture Interkabel to acquire the TV activities of the networks.

The accord is based on last autumnís original agreement between the parties and makes the integration between Telenet and the Interkabel networks a reality. The price represents a value of 8.3 times the EBITDA.

When the take-over is finalised, the Dutch speaking part of Belgium will have a single cable operator and a single digital TV offer. Telenet already sold broadband access and telephony services over the Interkabel networks and can now offer full triple play services including analogue and digital TV.

Incumbent telco Belgacom tried to stop the takeover by filing a complaint with the authorities claiming the municipalities should have started an open tender rather than sell the TV business to Telenet. This bid was unsuccessful and now Telenet is able to create the largest Belgium cable network.