Liberty Global to offload UPC France to Cinven/Altice One

24 Mar 2006

Altice One, the telecoms holding company of Cinven Group, has signed a non-binding letter of intent to purchase UPC France, a unit of UPC Broadband France, from Liberty Global for EUR1.25 billion (USD1.49 billion) in an all-cash deal. The Nasdaq-listed American parent is offloading its French cable business to focus on its core broadband activities. The transaction is expected to be completed in the second quarter, subject to it gaining the requisite regulatory approval.

France, Altice Europe