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Cable consolidation: UPC Belgium and Telenet merge

Tue, 12/12/2006 - 5:48am

Copyright 2006 World Markets Research Limited
All Rights Reserved
Global Insight
December 12, 2006
By Emeka Obiodu
From Lexis Nexis

The Belgian cable market is set for a major consolidation as the two leading players Telenet and UPC Belgium confirmed plans to merge.

Telenet, which has 2.6 million customers, is buying UPC Belgium from Liberty Global for 187 million euro (US$246 million) in cash. UPC Belgium has 125,000 customers.

Significance: The merger deal is part of Liberty Global's plan to consolidate its assets. The company is already Telenet's main shareholder with 28.07% and has stated its intentions to further raise its stake in Telenet. A merger of UPC Belgium and Telenet will bolster Telenet's drive to challenge Belgacom harder in the market.

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