Liberty Global Gets Approval to Buy Kabel BW

ENGLEWOOD: Liberty Global has been given the regulatory approval necessary to take over the German cable operator Kabel BW.

The German antitrust body Bundeskartellamt said it would allow the deal to go through, subject to certain conditions and obligations. The consideration paid by Liberty Global to acquire Kabel BW was based on an agreed upon enterprise value of 3.16 billion euros ($4.1 billion). Kabel BW is Germany’s third-largest cable operator. Liberty had previously purchased Unitymedia, Germany’s second-largest operator, in 2009. 

Mike Fries, the president and CEO of Liberty Global, said: “This is a major step forward for German consumers and our Company. The combination of Unitymedia and KBW creates a powerful platform for innovation and growth. Together, our German operations pass over 12 million homes, provide over 10 million subscription services and generate approximately 1.6 billion euros in annualized revenue. It’s well known that the cable industry in Germany is the primary source of infrastructure-based competition with the incumbent Deutsche Telekom, and we intend to capitalize on the opportunity to bring German consumers the most advanced broadband and digital TV products available.”