UnitedGlobalCom to acquire French cable operator Noos

0 Comments | AFP, March, 2004

PARIS (AFP) — The US-based broadband communications company UnitedGlobalCom is to acquire the French cable operator Noos from utilities group Suez for between 508 and 660 million euros (621 and 807 million dollars), UBG and Suez revealed.

As part of the deal Suez will receive a 20 percent stake in UGC's French holding company, which includes UGC's existing French operations. UGC is a unit of Liberty Media.

UGC spokesman Bert Holtkamp could not say whether UGC also had an agreement to acquire the stakes of France Telecom and Morgan Stanley in Noos, in which Suez has a 50.1 percent interest.

He said the purchase price was a combination of cash and shares in UGC France, with the cash element to be determined at the closing.

The transaction is subject to...