Printer Friendly

UPC and Nuon Create Largest Dutch Cable Company: United TeleKabel Holding

AMSTERDAM, Nov. 13 /PRNewswire/ - United and Philips Communications BV ("UPC") announced today that it has signed a memorandum of understanding regarding the merger of UPC'S Dutch cable assets with the Dutch cable assets of Nuon, one of the Dutch energy companies, thereby creating a new company, United TeleKabel Holding B.V. As a result of the merger, United TeleKabel Holding is expected to become a market leader in the areas of cable television, regional telephony, broadband Internet services, and other interactive services, such as interactive pay-per-view. United TeleKabel Holding will constitute the largest multi-service telecommunications provider in the Netherlands, and definitive documentation to form this company and effect the mergers should be completed by the end of 1997.

UPC is the largest privately-owned cable operator in Europe, with interests in cable properties serving 2.2 million subscribers. UPC is a 50% shareholder in the Amsterdam-based A2000 system (with 525,000 subscribers) and wholly owns the cable system in Eindhoven (85,000 subscribers). The Eindhoven system will be merged with the cable systems of Stichting Combivisie Regio (with 140,000 subscribers) on January 1, 1998. As a result, UPC will have approximately 485,000 proportionate subscribers in the Netherlands prior to the merger. UPC currently is a joint venture between Philips Electronics N.V. ("Philips") and United International Holdings, Inc. ("UIH"), although the parties have signed definitive documentation pursuant to which UPC will become wholly-owned by UIH by December 1, 1997,

Telekabel, the cable division of the energy company Nuon, is the fourth largest cable operator in the Netherlands with 600,000 subscribers in the provinces of Flevoland, Friesland and Gelderland. TeleKabel recently acquired the cable systems in Arnhem, and Lelystad.

Mr. Mark Schneider, Chief Executive Officer of UPC, stated, "We are very excited about the opportunities that lie ahead. The formation of United TeleKabel Holding will bring consolidation to the fragmented Dutch cable industry, leading to better economies of scale in systems, services, and customer premise equipment."

Mr. Cok van de Horst, Chief Financial Officer of Nuon, commented, "United TeleKabel Holding, with its market leadership position, will be much more efficient in developing and implementing new services, such as electronic ordering of movies (IPPV), broadband Internet services, and voice telephony. This efficiency will shorten the 'time to market' for new initiatives, and will also allow for attractive pricing at the consumer and business level for the company's services."

UIH is a leading provider of multi-channel television services and related businesses outside of the United States. UIH has ownership interests in and provides management services to multi-channel television systems operating in 23 countries throughout the world, covering 9.8 million homes in franchise areas, 7.3 million homes passed and 3.8 million subscribers.

SOURCE United International Holdings, Inc.
 -0- 11/13/97


/CONTACT: At United International Holdings, Inc.: Mark Schneider, President & CEO, Europe/Middle East Communications, Inc., 011-3120-578-9840 or Tim Bryan, Chief Financial Officer, 303-770-4001, tbryan@uih.com/

CO: United International Holdings, Inc.; Nuon ST: Colorado IN: CPR ENT FIN TLS SU: TNM

LN-DK -- LATH011 -- 3333 11/13/97 08:30 EST http://www.prnewswire.com
COPYRIGHT 1997 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 13, 1997
Words:516
Previous Article:DEMETER BioTechnologies, Ltd. Licenses Plant Disease-Resistance Technology to Mycogen Corporation
Next Article:Kestrel Energy Announces First Quarter Results
Topics:

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters