Kabel Deutschland Pays $787M For Struggling Cable Rival

Law360, New York (May 21, 2012, 12:11 PM EDT) -- German cable service provider Kabel Deutschland Holding AG is picking up debt-laden competitor Tele Columbus Group for €618 million ($787 million), the companies announced Monday.

Per the agreement, Kabel Deutschland will take care of all the existing debt held by Tele Columbus, the amount of which was not disclosed. The deal, pending approval from the German Federal Cartel Office, is expected to strengthen both companies' presence in the tightly dominated cable sector, they said.

"Our proposed merger with Kabel Deutschland is another step towards overcoming the...
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