Telco selloff ends July 1

Price of six cable franchises estimated at $4.6 billion

BERLIN — German telco Deutsche Telekom will get rid of its cable systems by July 1. Six remaining cable franchises will go to an investment group headed by U.S. cabler Liberty Media and the U.K.’s Klesch, a spokesman said last week at the Anga Cable Convention in Cologne.

Estimates put the price of the six as high as DM10 billion ($4.6 billion), while the entire system is valued at about $12 billion.

The sale of the regional network in the state of Baden-Wurttemberg to U.S. group Callahan Associates should be finalized by summer.

Callahan already holds a majority stake in the North Rhine-Westphalia network, while Klesch has obtained the franchise in the state of Hesse.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More TV News from Variety