Liberty Global Gobbles up Cablecom
Liberty Global, the parent company of Europe's largest cable operator, UPC Broadband, inked a deal today to acquire Cablecom of Switzerland. Cablecom was readying an IPO, but opted to sell to Liberty instead for US$2.186 billion, about 10 times the Swiss MSO's operating cash flow. Cablecom counts more than 2 million video, voice and data subscribers. Through the deal, Liberty will be the top broadband cable operator in 11 of its 14 European markets. And including Cablecom, Liberty will control 15.8 million homes passed in Europe.