Liberty Global completes Karneval acquisition; sells Belgian business to Telenet

3 Jan 2007

US-based Liberty Global has completed the EUR322.5 million (USD428.3 million) takeover of the Czech Republic’s second largest cable operator, Karneval Media, from Betbari Holding of the Netherlands, following a deal first announced in August last year. In addition, Liberty Global says it has completed the previously announced sale of its Belgian cable business, UPC Belgium, to Telenet Group Holding for EUR184.5 million (USD245 million).

Liberty Global was formed from the June 2005 merger of UnitedGlobalCom (UGC) and its majority shareholder Liberty Media International. Liberty Global owns interests in broadband distribution and content companies in 17 countries outside North America, principally in Europe, Asia and Latin America In Europe it is represented by two main subsidiaries — UPC Broadband and chellomedia — which offer a range of cable TV, high speed internet, telephony and content services in eleven countries — Austria, Belgium, Czech Republic, Hungary, Ireland, Netherlands, Poland, Romania, Slovak Republic, Slovenia and Switzerland.