German co. pays $73.5 mill for PrimaCom cities
BERLIN — Regional cable group Unitymedia has agreed to pay e49 million ($73.5 million) for PrimaCom’s cable operations in the cities of Aachen and Wiesbaden, which serve about 100,000 subscribers.
The acquisition will increase the proportion of the company’s subscriber base with access to its Unity3play package, which includes digital TV, Internet and telephone services, to more than 95%.
The triple-play package will be available in Aachen and Wiesbaden once the cable systems there are upgraded at a cost of $10.5 million.
Unitymedia topper Parm Sandhu called the acquisition “another milestone” for the company.
“These cities are demographically attractive and the only ones of significant size in the Unitymedia cable footprint where the core network has not yet been upgraded … to provide broadband Internet and telephony services. We intend to rectify this quickly.”
The deal, which is subject to approval by Germany’s antitrust regulator, is expected to close this fall.