Liberty Global near deal to buy German cable firm
US-based Liberty Global is near a deal to buy Kabel Baden-Wuerttemberg (KBW), Germany's third-largest cable television company, for EUR3.1 billion to EUR3.2 billion ($4.5 billion), The Wall Street Journal said Friday.
The newspaper, quoting "people familiar with the matter," said private equity firms CVC Capital Partners and Hellman & Friedman were also bidding for KBW but Liberty Global appeared to have the upper hand.
The Journal cautioned that a formal agreement "was still not a certainty" but said a deal could be reached over the weekend.
KBW is owned by Swedish private equity firm EQT.
Liberty Global Inc. operates broadband services serving 17.7 million clients in 14 countries, including Germany's Unitymedia, Switzerland's Cablecom and Belgium's Telenet, as well as VTR in Chile and AUSTAR in Australia.
In December, Liberty Global purchased Polish Internet and cable television provider Aster.
© 2011 AFP