• Most Popular
  • Most Shared

Liberty Media close to deal for Unitymedia -papers

Thu Nov 12, 2009 2:50pm EST

FRANKFURT, Nov 12 (Reuters) - John Malone's media conglomerate, Liberty Media, is close to acquiring the second-largest German cable network company, Unitymedia, according to two German media reports late on Thursday.

Stocks  |  Mergers & Acquisitions  |  Bonds  |  Private Capital

Both WirtschaftsWoche (WiWo) and Financial Times Deutschland (FTD) reported talks concerning a sale were advanced.

WiWo wrote that plans by Unitymedia's owners BC Partners and Apollo Management to take the company on the stock exchange via an initial public offering would likely then be shelved this week.

The FTD reported negotiations between the parties could be concluded within a matter of days, now that Malone is willing to pay eight times the amount of Unitymedia's earnings before interest, tax, depreciation and amortisation (EBITDA), including net debt of 1.5 billion euros.

Unitymedia, which expects to post an EBITDA of about 420 million euros this year, could not be reached for a comment.

(Reporting by Christiaan Hetzner; Editing Bernard Orr)

Stocks
Mergers & Acquisitions
Bonds
Private Capital


More from Reuters

A Greenpeace activist dressed as one of the "Four Horsemen of the Apocalypse" rides outside the parliament building during a brief protest in Copenhagen December 13, 2009. REUTERS/Christian Charisius

The face of climate protest

Protesters around the globe called for an end to global warming as climate talks in Copenhagen entered their sixth day.  Video 

    Climate conference
    In this photo reviewed by the U.S. Military, a guard leans on a fencepost as a Guantanamo detainee (L) jogs inside the exercise yard at Camp 5 detention center, at the U.S. Naval Base in Guantanamo Bay, January 21, 2009. REUTERS/Brennan Linsley/Pool

    Life after Guantanamo

    Critics are worried that Gitmo prisoners once dubbed "enemy combatants" will be using prisons as pulpits for anti-American rhetoric once they're moved to U.S. soil.  Full Article 

    U.S.
    Lockheed Martin Chief Executive Robert Stevens answers a question during the Reuters Aerospace and Defense Summit in Washington December 14, 2009. REUTERS/Molly Riley

    Lockheed eyes deals

    The future demands of cybersecurity make that sector one of many the aerospace giant sees as an acquisition target in the coming year.  Full Article 

    Aerospace and Defense Summit