Kabel Deutschland acquires 1.2 million subscribers from the Orion Group
Kabel Deutschland GmbH today announced that it signed a purchase agreement with the Orion Group to acquire networks serving approximately 1.2 million cable television subscribers for € 585 million. The subscribers are located in eight German federal states (Schleswig-Holstein, Hamburg, Bremen, Lower Saxony, Mecklenburg-Western Pomerania, Rhineland-Palatinate, Saarland und Bavaria), in which Kabel Deutschland operates the level 3 (distribution network) and level 4 networks (home networks). The transaction resolves the historic and unique separation of network levels in these federal states to a large extent.
“These households which have been limited to DTAG offers for the first time will be able to receive highly competitive triple play services - highspeed internet, telephony and digital television services from Kabel Deutschland”, said Kabel Deutschland’s CEO, Adrian v. Hammerstein.
The closing is anticipated to occur in the first quarter of 2008 after FCO clearance.
KDG also announced that it will no longer pursue its options related to Primacom and will tender into the Orion offer.
About Kabel Deutschland
Kabel Deutschland (KDG) operates cable networks in 13 German states and supplies its services to approximately 9 million connected TV households in Germany. Being Germany's largest cable network operator und biggest triple play provider, Kabel Deutschland develops and markets new triple play offers for digital TV, broadband Internet and telephone connection via cable. KDG offers an open digital TV platform for all program providers. The company operates the networks, markets cable connections and provides comprehensive services for all matters of cable connectivity. In fiscal year 2007/2008 (12 months ended March 31, 2008), Kabel Deutschland reported a total revenue of approx. EUR 1.2 billion, EBITDA amounted to EUR 457.8 million. The company has around 2,750 employees
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Investor Relations and Finance
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Insa Calsow
Director Investor Relations and Finance
Elmar Baur
Investor Relations Manager
Astrid Adamietz
Investor Relations and Finance Assistant
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