According to its own specifications, British Vodafone Group wants to take over large parts of British broadband provider Liberty Global, including German cable network provider Unitymedia with 7.2 million customers. The two companies had agreed on a purchase price of 18.4 billion euros, shared Vodafone. The company expects that purchase will be completed by middle of next year. The cartel authorities still have to agree.
Vodafone has already owned network of Kabel Deutschland since 2014. With purchase of Liberty Global, British would also control remaining cable television network in Germany. Unitymedia is represented in federal states of North Rhine-Westphalia, Hesse and Baden-Württemberg. With takeover, Vodafone would have a television cable network with which nearly two-thirds of all German households are reached. This would allow Vodafone to offer mobile, television and broadband throughout country.
In addition to Germany business, liberty business in Hungary, Czech Republic and Romania should also go to Vodafone.
Telecom considers Vodafone projects criticalLiberty Global had written a furr loss in past quarter. The minus fell at 1.2 billion dollars more than three times as high as a year ago. On or hand, sales rose by 4.2 percent to 4.2 billion dollars, company said on Tuesday evening after US stock market closing. Operating profit rose by 17.5 percent to 493 million dollars.
Deutsche Telekom as a competitor sees project Vodafones critically. Company chief Tim Höttges has described a possible merger of two major cable network operators in Germany as "non-approved". He holds a merger for false and distorting competition, Höttges said after announcing Vodafone. "Personally, I will fight to ensure that we do everything we can to make sure that our customers are not discriminated against in a fair competition."
Date Of Update: 10 May 2018, 12:03
