Philips, United in cable deal

AMSTERDAM, Netherlands — Philips Electronics said Thursday it is placing its European cable TV holdings into a joint venture with the European cable interests owned by U.S.-based United International Holdings Inc.

The companies will own equal shares of the venture, which will have interests in cable systems with 1.5 mil subscribers in 11 countries.

Philips said the venture would be the largest cable system operator in Europe that isn’t owned by a government.

The venture will include systems Philips operates in Germany, the Netherlands , Belgium, France and Austria. It will also include United International’s cable interests in Norway, Sweden, Ireland, Hungary, Malta and Israel.

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