The Canadian cable television group Videotron yesterday announced that it is to sell its 56% stake in Videotron Holdings, the British cable company. This comes at a time when the cable industry has been disappointed with its performance in the past two years, with the percentage of subscribers to cable television stuck at around 21% of those households which would be able to receive it even though telephone subscriptions have been rising at a greater speed.
Videotron Holdings is the seventh largest UK cable operator with franchises covering 1.4 million homes, with around 153,000 subcribers. Potential buyers interested in Videotron are; TeleWest, who recently bought SBC Communtications for £679 million; Nynex CableComms and Bell Cablemedia, who may be interested specifically in Videotron’s west and south London franchises according to newspapers reports today.
Videotron is likely to require capital to develop its main North American markets as a result of expected telecommunications deregulation in Canada.
Videotron: 01703 315000
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