UGC mulls Noos acquisition

4 Mar 2004

Europe’s largest cable TV operator UnitedGlobalCom (UGC) is in negotiations with the Suez Group over the possible acquisition of the latter’s cable TV operating arm Noos. The discussions are in line with Suez’s plans to exit the communications sector, announced in September 2003, and also UGC’s goal of expanding its operations in markets with strong growth potential where it already has a presence. The two parties are thought to have agreed on an asking price of around EUR660 million for Noos, which is France’s largest CATV operator, with 1.066 million subscribers at the end of September 2003, around 31% of the market. At the same date UGC France claimed 473,000 customers and a 13.5% market share.