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Business

Callahan acquires 54% of Alcatel unit

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DENVER – Continuing its European buying binge, Callahan Associates said last week it is acquiring a controlling interest in a cable operator with 1.6 million subscribers in Belgium.

The $1.6-billion deal to buy 54.2 percent of Telenet, a division of French telecommunications giant Alcatel, would bring Callahan’s total number of European cable subscribers to 6.6 million.

"This is a very healthy addition to our overall holdings," said Andrew Sukawaty, Callahan’s London-based president and chief operating officer.

Callahan‘s subscribers on the continent will grow to 8.8 million when a separate deal in Baden-Wurttemberg, Germany, closes soon, Sukawaty said.

Callahan, headed by former US West International chief Dick Callahan, invested in its first European cable systems in Spain and France in 1999.

A year ago, it joined the ranks of the largest European cable companies when it won a bid for controlling stake in Deutsche Telekom’s 4.4 million-subscriber North Rhine-Westphalia franchise.

Sukawaty said Callahan Associates has been working on the Telenet acquisition since May of last year.

vuukle comment

ALCATEL

ANDREW SUKAWATY

CALLAHAN

CALLAHAN ASSOCIATES

DEUTSCHE TELEKOM

DICK CALLAHAN

NORTH RHINE-WESTPHALIA

SPAIN AND FRANCE

SUKAWATY

TELENET

WEST INTERNATIONAL

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