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Liberty Global sells Norwegian unit to Candover for EUR450 million

20 Dec 2005

Worldwide cable operator Liberty Global is selling its Norwegian cableco UPC Norway to the UK-based private equity group Candover for EUR450 million (USD540 million). UPC Norway provides high speed internet access and voice telephony services to around 350,000 homes and employs 323 staff. The European cable market is undergoing a renewed phase of consolidation and fresh financing as investors try to capitalise on the trend of subscribers signing up to bundled (i.e. triple play) services.

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