PARIS — Paris mayor Jean Tiberi will push for the sale of his city’s 23% stake in local cable operator Paris Cable at the next Council of Paris meeting on Monday.
Tiberi said the divestiture was necessary because the city can no longer continue its role in a competitive context.
In a notoriously difficult market, Paris Cable, which bowed in 1984, has attracted 220,000 subscribers, with up to 70 channels. France has about 1.5 million basic cable subscribers with cable operators now facing increased competition from satellite-delivered digital platforms.
Currently, major shareholders include Gallic utilities giant Suez-Lyonnaise des Eaux, through subsid Lyonnaise Cable, with 52.4% and France Telecom with 24.5%.