Liberty Global, the European acquisition vehicle of US cable entrepreneur John C Malone, has agreed to buy Swiss broadband cable-TV operator Cablecom Holdings for $2.19bn (€1.81bn; £1.23bn). The deal is expected to be inked later this month.
Cablecom, owned by a group of US private equity firms, had announced its planned IPO on the Swiss stock market just one day prior to Liberty's coup.
Says Mike Fries, president/ceo of Liberty Global: "Continued expansion of our footprint in Europe is a core strategic objective."
The company is the largest cable provider outside the US, with a total of around 17 million video, internet and phone subscribers. It says the Swiss deal will make it the largest broadband cable operator in 11 of its 14 European markets.
Data sourced from Wall Street Journal Online; additional content by WARC staff