UPC Merges Units After Excite Withdrawal

06 December 2000

Netherlands-headquartered cable group United Pan-European Communications yesterday announced the merger of its high speed internet division Chello and its interactive TV unit UPC Media.

The move comes just one day after Excite@Home called-off talks to merge its non-US assets with Chello [WAMN: 05-Dec-00].

UPEC chairman Bert Holdkamp claimed the melding of the two units would “kill two birds with one stone”, allowing the newly merged division either to aim for a stock market listing in its own right or seek a new majority stakeholder to take control of the venture.

News source: Financial Times