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UPC Poland finalises Aster acquisition

Liberty Global-owned UPC Poland has finalised the acquisition of Poland’s fourth largest cable operator Aster. The move follows regulator approval for the deal by regulator UOKiK, conditional on Liberty Global selling some assets in areas where the two providers’ networks overlap.

UPC said the deal marked the beginning of the process of consolidating the Polish cable industry and would result in further investment in new technology.

UPC Poland CEO Simon Boyd said that it was necessary to build a strong competitive platform to take on incumbent telco TP and DTH providers with national reach. With the integration of the two operators, Aster’s 380,000 customers will be added to UPC’s 1.09 million.

The deal sees the exit of Aster’s previous owner Mid Europa Partners from the Polish telecommunications market. Mid Europa’s Matthew Strassberg who has been responsible for Aster, said: “We are pleased to have closed this transaction on substantially the same terms as agreed to last December. We believe this outcome validates the unique strategic position of the asset and the tremendous value created by the well-aligned management team, with whom we have worked closely for many years.”