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14.09.2015

14:27 Uhr

Cable Takeover

Tele Columbus Buys Rival Pepcom

VonGilbert Kreijger

Tele Columbus, Germany’s third-largest cable network operator, is buying rival Pepcom for $689 million from British investor Star Capital. Its second acquisition in two months is a challenge to the market leaders.

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Tele Columbus, Germany's third-largest cable TV operator, is on a buying spree.

The Berlin-based firm on Sunday said it will buy smaller rival cable operator Pepcom for €608 million, or $689 million, marking the second major acquisition in two months.

Tele Columbus, which agreed to buy rival Primacom in July for €711 million, will increase its number of customers by about 0.6 million to 3.7 million connected homes, the firm said in a statement.

“The company has operations nationwide with a strong presence in economically-attractive cities such as Munich, Nuremberg, Leipzig and Frankfurt,” Tele Columbus said about Pepcom.

Even including the takeover of Primacom and Pepcom, Tele Columbus would have recorded sales of €471 million in 2014. That's still a far cry from the €2.05 billion realized by Germany's market leader Unitymedia, which is owned by Nasdaq-listed U.S. firm Liberty Global, and the €2.02 billion of Kabel Deutschland, which is owned by British mobile phone operator Vodafon.

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