Deutsche Telekom AG has sold its remaining six German cable regions to US company media company, Liberty Media Corporation. The sale is part of Deutsche Telekom’s strategy of focusing on its four main corporate divisions – mobile communications, internet communications, systems solutions and network access services – and spinning off its non-core assets, the company said.
The sale will generate around E5.5 billion for Deutsche Telekom; this will be put towards debt reduction.
As part of the deal Liberty Media is also purchasing Media Services GmbH which provides IT services for the regional companies and operates a neutral platform for digital TV and Deutsche Telekom Kabel Services GmbH.
The cable holdings sold to Liberty are all over Germany and include the entire northern and eastern regions of the country, covering 10 million homes.
