Liberty Global snaps up Karneval for USD415 million

10 Aug 2006

Liberty Global, which operates broadband communications networks in 18 countries, principally in Europe, Asia and Latin America, has agreed terms to buy Czech cable operator Karneval Media from Betbari Holding of the Netherlands for EUR322.5 million (USD415 million). The country’s second largest cable operator, Karneval was formed in 2003 after the Czech Office for the protection of Economic Competition approved the merger of the country’s then second largest operator, Intercable, with the third largest, TES Media. Karneval offers cable TV and high speed internet access to residential customers and serves 253,000 cable TV customers and 57,000 broadband users, Liberty Global said in a statement. The acquisition is expected to close as early as September, after which Liberty Global plans to merge the unit with its UPC Czech unit – the number one cable player in the Czech Republic.

Czech Republic, UPC Ceska Republika