UPC and Nuon Create Largest Dutch Cable Company: United TeleKabel Holding
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.
/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, email@example.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
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|Date:||Nov 13, 1997|
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