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Liberty eyes new target


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The chairman of US-based cable company Liberty Global Inc, John Malone, may make further acquisitions in the German cable market, following the firm’s takeover of Unitymedia in November 2009, German business daily Handelsblatt reports, citing unidentified sources close to the company.
The chairman of US-based cable company Liberty Global Inc, John Malone, may make further acquisitions in the German cable market, following the firm’s takeover of Unitymedia in November 2009, German business daily Handelsblatt reports, citing unidentified sources close to the company.

According to the report, Liberty is currently eyeing regional cableco Kabel BW. Both Kabel BW and rival Kabel Deutschland are reportedly interested in selling, with the former thought to be looking for around EUR1.5 billion (USD2.16 billion). As previously reported by CommsUpdate, Liberty entered into a definitive agreement to acquire 100% of the share capital of Unitymedia from private equity owners Finakabel Holdings/BC Partners and Apollo Management in November 2009. The terms of the deal place an equity value of EUR2 billion on Unitymedia and an enterprise value of EUR3.5 billion. The transaction is expected to take place in the first half of 2010 and is subject to regulatory approval.


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