UPC Switzerland announced that it has completed the buyout of Geneva-based TeleOnex, increasing its 49% stake to 100%. The fibre provider, which is owned by the Onex municipal council, claims 95% coverage of Onex, and boasts 6,350 broadband subscribers. Francois Mumenthaler, administrative councillor of Onex, commented: ‘By selling the cable network to UPC we have ensured that it remains in the hands of the professionals, who can develop it in the best conditions. Its future is thus guaranteed.’
Previously, on 27 January UPC announced that it had completed the takeover of an additional municipal fibre network, in Euthal, owned and operated by Genossenschaft der Gemeinschafts-Antennenanlage Euthal (GGAE).