Cable and telephony company, NTL, has acquired Cablelink, Ireland’s largest cable television provider, for I£535 million (£445 million). The acquisition is NTL’s first broadband venture outside the UK, will make NTL the largest cable and telephony provider in the United Kingdom and Ireland.
With an existing customer base of over 360,000 subscribers, Cablelink currently has an 83% penetration rate in its cable broadband network which passes 420,000 homes. It is jointly owned by Telecom Eireann, the state telephone company, and Radio Telefis Eireann, the national broadcaster.
Cablelink holds licenses to provide analogue and digital television services, and it also has a full service license allowing it to provide public telephony, internet and other value-added services throughout Ireland. NTL plans to provide an integrated range of advanced broadband multi-media services, including digital television, telephony and internet services.
Commenting on today’s announcement, Barclay Knapp, President and CEO of NTL, said: “This acquisition is a major strategic advance for NTL. The purchase of Cablelink increases our subscribers by 360,000, and allows us to better integrate our operations in Northern Ireland and the Republic of Ireland, paving the way for the introduction of advanced services in one of the most rapidly growing economies in Europe.”
Separately, it was announced this morning that Microsoft is to take a 29.9% stake in UK cable company, Telewest Communications (see Sharewatch). The holding is acquired by Microsoft through a broader alliance with Telewest’s ultimate owners, AT&T.
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NTL: 01252 402 000
