UnitedGlobalCom Goes on Spending Spree
UnitedGlobalCom (UGC) is on a holiday spending spree this week. Already Europe's largest MSO, UGC announced a deal Wednesday to buy Telemach, the largest broadband provider in Slovenia with more than 100,000 cable subscribers and 10,000 high-speed data customers. The deal, subject to review by the Slovenian government and expected to close in the first quarter of 2005, calls for UGC to take 100% interest in Telemach. The Slovenian pact came just two days after UGC purchased stakes in two other European cable operators, Belgium's Telenet Group Holding and Ireland's Chorus Communications, through separate agreements with Liberty Media Internatonal. Telenet is the largest MSO in Belgium while Chorus is the second biggest cable operator in Ireland. The two acquisitions will cost UGC a total of about $198 million.