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Liberty Media & Klesch team up

The two companies have acquired Deutsche Telekom’s remaining broadband cable assets in Germany.

Liberty Media Corporation and London-based private equity firm Klesch & Company Limited have signed a letter of intent to purchase Deutsche Telekom’s remaining 55 per cent stake in broadband cable assets in eight regions in Germany. Over 10 million homes are connected to the regions

The value of the deal has not been disclosed but Gary Klesch of Klesch & Partners did tell PEO that the deal is almost entirely equity financed.

The partnership has also secured an option to acquire an additional 20 per cent of the equity interests minus one vote in these regions.

The acquistion will be made through a vehicle which Klesch and a subsidiary of Liberty Media will jointly manage.

Liberty Media holds interests in a broad range of video programming, communications, technology and internet businesses in the United States, Europe, Asia and South America.