Tele Columbus has agreed a deal that will see it acquire its rival cable network operator, PrimaCom Holding GmbH, for €711 million.
The deal is the latest advance in the consolidating German broadband cable market, and will bring together the third and fourth largest players to provide serious competition to Kabel Deutschland, owned by Vodafone, and Unitymedia, owned by Liberty Global.
“With the acquisition of PrimaCom, Tele Columbus is successfully driving the consolidation of the German cable market and underlining its leading role in this process,” read the official line from Tele Columbus.
The new entity will serve 2.8 million connected homes. The deal is scheduled to go through by the end of July.
