Investment group Kaprain has acquired the number three Czech cable operator Rio Media, according to local reports.
Kaprain already owns the Nej.cz cable network and the move will double its customer base to over 200,000. The transaction is subject to approval by the Czech competition watchdog.
Kaprain Group founder Karel Pražák said that the combination of Rio Media with Nej.cz would create the second largest provider of cable services in the country – after Liberty Global – and added that Kaprain was considering other consolidation opportunities in the Czech market.
Rio Media was created by Argus Capital in 2009 as a consolidation vehicle for the Czech cable industry. The grouping brought together a number of smaller local players into a single entity with the aim of providing triple-play services to customer throughout northern Bohemia and Moravia.
Pražák founded Kaprain four years ago, with a focus on investing in real estate, industry and the financial sector.
UPC Czech Republic, now under a single management structure with Liberty Global’s Slovakian unit, remains by far the largest player in the country’s cable business.