Funds advised by Apax Partners, Goldman Sachs and Providence Equity Partners agree to purchase Deutsche Telekom`s remaining cable operations.

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M2 PRESSWIRE-28 January 2003-APAX PARTNERS: Funds advised by Apax Partners, Goldman Sachs and Providence Equity Partners agree to purchase Deutsche Telekom`s remaining cable operations(C)1994-2003 M2 COMMUNICATIONS LTD RDATE:01282003 Munich/London -- Funds advised by Apax Partners, Goldman Sachs (through its private equity arm GS Capital Partners) and Providence Equity Partners have agreed to acquire jointly the remaining cable television operations of Deutsche Telekom.

The three firms are equal partners in the transaction. The agreement with Deutsche Telekom was signed on 28 January 2003. It is subject to financing and the approval of the European Commission. The purchase price is euro1.725 billion in cash. Further, up to an additional euro375 million...