Kabel Deutschland buys 1.2 mln subs from Orion

21 Sep 2007

German cableco Kabel Deutschland (KDG) is to acquire 1.2 million subscribers from rival Orion Group for EUR585 million (USD820 million). The subscribers are in eight states (Schleswig-Holstein, Hamburg, Bremen, Lower Saxony, Mecklenburg-Western Pomerania, Rhineland-Palatinate, Saarland und Bavaria) in which KDG operates the Level 3 (distribution) and Level 4 (home) networks. Kabel Deutschland has also agreed to give up its ambitions on rival cableco Primacom as part of the deal, and tender its 17.5% stake in Primacom to Orion’s takeover offer of EUR10 per share.. Providing the transaction is approved by the regulator, it should be completed by early 2008.

Germany, Kabel Deutschland, PrimaCom