Liberty Global Inc. has inked a deal to acquire Cablecom Holdings AG, the largest cable operator in Switzerland, for $2.18 billion.
The figure is below Cablecom's announced, but now scrapped, IPO pricing of $2.2 billion to $2.7 billion.
Liberty, which hopes to close the deal in October, said Cablecom is a component of its "core strategic objective" to expand its footprint in Europe.
Cablecom has more than 2 million video, voice and data subs. With it, Liberty will have about 17 million revenue generating units worldwide.
"Cablecom fits perfectly into our long-range growth plans," said Liberty Global President & CEO Mike Fries, in a statement.