Poland’s Office of Competition and Consumer Protection (UOKiK) has delayed its decision on the sale of regional cable operator Aster to Liberty Global, according to media reports.
The delay is reportedly due to the complexity of the case, Liberty Global…
Poland’s Office of Competition and Consumer Protection (UOKiK) has delayed its decision on the sale of regional cable operator Aster to Liberty Global, according to media reports.
The delay is reportedly due to the complexity of the case, Liberty Global being the parent company of rival operator UPC Poland.
Last December Liberty Global agreed to buy regional cableco Aster from Mid Europa Partners for PLN2.4bn (US$875m).
The deal consists of an equity purchase price of PLN870m (US$317m) and about PLN1.53bn (US$558m) in debt.
Mid Europa was advised by Credit Suisse, while Liberty Global did not use any external financial adviser but received legal counsel from Allen & Overy.
At the end of September 2010, Aster had 368,000 TV, 177,000 internet and 70,000 fixed-line subscribers.
Mid Europa and the management team acquired Aster in March 2006 for PLN1.6bn (US$584m).
