Sunday, May 8, 2005

UnitedGlobalCom to Acquire ntl Ireland

UnitedGlobalCom purchased NTL's broadband operations located in the Republic of Ireland. The acquisition, which was accomplished through MS Irish Cable Holdings B.V., an affiliate of Morgan Stanley and UnitedGlobalCom, was for approximately EUR 325 million excluding an adjustment for cash in the business at closing, plus a EUR 4 million arrangement fee and reimbursement of certain expenses and costs for Morgan Stanley.

NTL Ireland is the largest cable operator in the Republic of Ireland, offering cable television and broadband services to residential customers and managed network services to corporate customers. At December 31, 2004, NTL Ireland had approximately 355,300 revenue generating units ("RGUs") including 347,800 digital and analog video RGUs and 7,500 broadband Internet RGUs.

UGC is a leading international provider of video, voice, and broadband Internet services with operations in 16 countries, including 13 countries in Europe. Based on the Company's operating statistics at December 31, 2004, UGC's networks reached approximately 16.0 million homes passed and served over 11.6 million RGUs, including approximately 9.4 million video subscribers, 1.4 million broadband Internet subscribers, and 803,500 telephone subscribers.


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