UPC Cablecom has taken full control over the Télé-Pregny-Chambésy glass fibre optic cable network in Geneva.
The Liberty Global subsidiary, which already owned a 25% share in Télé-Pregny-Chambésy, bought the remaining 75% from the municipality of Pregny-Chambésy and three private shareholders.
The deal marks UPC Cablecom’s latest Swiss investment, having already bought the glass fibre optic cable networks Télécarouge and Télélancy in the past year.
“This transaction confirms the strategic importance of French-speaking Switzerland for upc cablecom and our willingness to invest in this region,” said UPC Cablecom’s chief financial officer, Ivan Nash Vila.
Philippe Schwarm, municipal councillor of Pregny-Chambésy, added: “Our cable network is now in the hands of professionals who are in a position to develop it further under the best possible conditions.”
Télé-Pregny-Chambésy claims to serve around 600 households in the Geneva municipality of Pregny-Chambésy. UPC takes full control of the network effective July 1.
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21st February 2019