Liberty Global has announced that, following regulatory approval earlier this week, it has completed the previously announced agreement to acquire all of the issued and outstanding capital stock of Unitymedia GmbH, Germany’s second largest cable operator.
The acquisition involved total consideration of approximately €3.5 billion.
The cable footprint, passing approximately 8.8 million homes, covers ten of the twenty largest cities in Germany, including Cologne, Dusseldorf, and Frankfurt.
At September 30, 2009, Unitymedia reported approximately 6.4 million RGUs (as defined by Unitymedia), including 4.5 million analog and digital basic cable subscribers and 1.9 million new service RGUs (digital TV Pay, retail broadband Internet, wholesale MMA Internet, and telephony).
Gene Musselman, president and COO of UPC Broadband, will serve as acting managing director of Unitymedia in addition to his European role.
Parm Sandhu, current CEO of Unitymedia, has decided to leave the company to pursue other opportunities.