KPN completes sale of remaining cable operations
20 January 2003 -- Dutch telecoms group KPN has completed the sale of its Czech and Polish cable units for EUR65m, terminating its activities in the cable market.
20 January 2003 -- Amsterdam-based telecoms group KPN NV says that its cable operation Vision Networks NV has completed the sale of Vision Networks Tsjechie Holding BV to Betbari Holding, owner of TES Media. Approval for the transaction was obtained from the Czech Antimonopoly Office in early January.
On 18 December 2002 Vision Networks completed the sale of Vision Networks Polen Holding BV to a consortium led by 3TS Venture Partners AG and consisting of the Technologieholding Central and Eastern European Fund NV, Technologieholding Central and Eastern European Parallelfund BV, Nova Polonia Private Equity Fund LLC, Nederlandse Financierings-maatschappij voor Ontwikkelingslanden NV and Innova/98 LLC.
Vision Networks Tsjechie Holding BV was the owner of Intercable CZ in the Czech Republic, the Czech Republic's second cable TV operator. Vision Networks Polen Holding BV owned Slaska Telewizja Kablowa Sp. z o.o., the second cable TV operator in the Upper Silesian region in Poland. The combined proceeds of the sale of Vision Networks Tsjechie Holding BV and Polen Holding BV are about EUR65m.
As Vision Networks has already sold off its cable interests in the Netherlands, the UK, France and Germany, with the completion of the sale of Vision Networks Tsjechie Holding and Vision Networks Polen Holding, it is no longer active in the cable market.