LGI completes acquisition of Unitymedia

US-based cable company Liberty Global Inc (LGI) has announced it has completed the acquisition of German cableco Unitymedia, after it received regulatory approval earlier this week. The acquisition involved total consideration of around EUR3.5 billion (USD4.92 billion). As reported by CommsUpdate, LGI entered into a definitive agreement to acquire 100% of the share capital of Unitymedia from private equity owners Finakabel Holdings/BC Partners and Apollo Management in November 2009. Mike Fries, president and CEO of LGI, commented: ‘We are excited about this transaction as it complements our existing European footprint and has significant untapped growth potential in one of the fastest growing cable markets in Europe. The addition of Unitymedia not only enhances our European presence, but adds significant scale to our global operations, as our footprint, including Unitymedia, will exceed 40 million homes.’ Unitymedia passes 8.8 million households in the federal states of North Rhine-Westphalia and Hesse.