European cable group UPC has received a â‚Ź1.0 billion cash injection from US media group Liberty Media. Nevertheless, the group has still admitted to a further â‚Ź1.0 billion shortfall in necessary funding.
UPC’s parent company, UnitedGlobalCom, is currently in the latter stages of merging with Liberty Media. The deal is two to three months from completion, according to analysts at ABN Amro.
The broker also says that despite the €1.0 billion cash injection, the risk for UPC still remains on the downside. There may be further reports of uncertainty over UPC’s financial position; there is the regulatory threat of open access and the possibility for delay in the roll-out of UPC’s Digital Cable service (see UPC’s Digital Cable Roll-Out May Disappoint, Says ABN Amro).
ABN has a Reduce stance on the group.
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