UPC is to buy assets in Fibernet, thereby further strengthening its position as the leading cable operator in Hungary. The move follows the acquisition of all the shares in Fibernet by Invitel’s Hungarian subsidiary Magyar Telecom (not the incumbent telco, known as Magyar Telekom) last Friday and its subsequent decision to dispose of a third of Fibernet’s assets to Liberty Global’s UPC.
The deal should be completed in Q1 2011 following approval from the competition authority GVH.
Fibernet is the fourth largest cable operator in Hungary, providing triple play services to over 150,000 customers. Upon completion of the deal, UPC will acquire cable networks reaching approximately 166,000 additional households, currently serving around 80,000 cable, broadband internet and cable telephony RGUs.
UPC is the undisputed market leader in Hungary’s cable industry, followed by the incumbent telco Magyar Telekom and RCS/RDS’s Digi.
No fee for the sale of the stake in Fibernet to UPC has been disclosed.
