Cablecom Ups Naxoo Stake

ZURICH -- Switzerland’s largest cable network operator cablecom has increased its shareholding in Télégenève (Naxoo) to 49 percent. Naxoo is commissioning cablecom to modernize the Geneva cable network over the next few years. The contract is worth about 40 million Swiss francs. As a result, 90,000 additional households in the largest city in the west of Switzerland will be provided with access to telephony and broadband Internet supplied by cablecom in the course of the next 18 months.

Cablecom increased its shareholding in Naxoo to 49 percent on 28 August 2006 and is thus becoming the most important partner of the Geneva-based cable network company. Conjointly, Naxoo and cablecom will modernise the Geneva cable network over the next two years in order to introduce triple-play products. Upon completion of the modernisation process, 90,000 connected households will have access to cablecom’s broadband Internet and digital telephony services. The range of television channels currently offered will remain unchanged.

Various institutional investors have decided to sell additional shares, since the digitalisation of cable networks makes competent partnerships indispensable. «The increasing complexity of the business calls for cooperation with a strong partner who knows the industry inside out», says Antoni Mayer, CEO of Naxoo. "By increasing the share held by cablecom, we make sure that our customers in Geneva have access to a modern network that is able to meet the challenges of the future." Claude Hildenbrand, Director of cablecom Suisse romande adds: "We are very pleased that Naxoo has decided to cooperate with cablecom, and we will make sure that the connected households will be able to use the entire triple-play product range, i.e. digital television, Internet and telephony, as soon as possible."

UPC Cablecom