Liberty Global acquires Kabel BW
Liberty Global has commenced the acquisition of German company Kabel BW.
International media company Liberty Global has entered into an agreement to acquire Kabel BW (KBW), Germany's third-largest cable TV operator.
The move will see the company add to its current pan-European services by taking over KBW's television, broadband internet and telephony services in the German state of Baden-Wurttemberg.
Commenting on the acquisition, Mike Fries, predisent and chief executive officer of Liberty Global, claimed the move is "great news" for both shareholders and the German consumer.
"This transaction provides us with further access to one of the fastest-growing cable markets in Europe and is fully aligned with our strategy of acquiring world-class cable operations," he said.
Mr Fries went on to claim that the acquisition will see Germany become Liberty Global's largest European market, as well as being a "key driver" for innovation in its various services.
The company currently operates broadband networks in 14 countries, the majority of which are located in Europe - although it also caters for Australia and certain South American regions.