UPC Cablecom takes over cable network in Geneva
Switzerland’s largest cable operator UPC Cablecom has acquired the fibre-optic cable network of Télé-Pregny-Chambésy which serves the municipality Pregny-Chambésy in the canton of Geneva.
Until now, the municipality of Pregny-Chambésy together with three private shareholders held a 75% stake in Télé-Pregny-Chambésy which serves around 600 households. Together, they decided to sell their shares to UPC Cablecom effective July 1, 2014. As the Liberty Global subsidiary already held a 25% stake, the cable network of Pregny-Chambésy is now wholly owned by UPC Cablecom. Financial details have not been disclosed.
“This transaction confirms the strategic importance of French-speaking Switzerland for UPC Cablecom and our willingness to invest in this region,” said Ivan Nash Vila, UPC Cablecom’s CFO. In the past 12 months, the company has already purchased the fibre-optic cable networks Télécarouge and Télélancy in Western Switzerland.
Nothing will change for customers as UPC Cablecom already offers its complete range of digital products (TV, internet, telephony) in the Geneva municipality.
Philippe Schwarm, municipal councillor of Pregny-Chambésy, is convinced that his municipality has made the right decision by handing over full control of the cable network to UPC Cablecom. “Our cable network is now in the hands of professionals who are in a position to develop it further under the best possible conditions. The future of our cable network has been secured by the sale.”
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