Zurich, 2 July 2014
upc cablecom purchases further cable network in the canton of Geneva
Effective 1 July 2014, upc cablecom has taken over the TÉlÉ-Pregny-ChambÉsy glass fibre optic cable network. Up until now, the municipality of Pregny-ChambÉsy together with three private shareholders has held a 75 per cent share in TÉlÉ-Pregny-ChambÉsy SA. Together, they decided to sell their share to upc cablecom. The cable network in Pregny-ChambÉsy is therefore now owned wholly by upc cablecom, as the company already held a 25 per cent share in TÉlÉ-Pregny-ChambÉsy SA.
In the past 12 months, upc cablecom has already purchased the glass fibre optic cable networks TÉlÉcarouge SA and TÉlÉlancy SA. Now, upc cablecom has invested again in Western Switzerland. The Geneva municipality of Pregny-ChambÉsy and the other shareholders decided to sell their shares in their own cable network, which serves around 600 households, to upc cablecom. The leading provider of TV and the fastest Internet in Switzerland previously owned 25 per cent of the TÉlÉ-Pregny-ChambÉsy SA cable network. After considering the various options carefully, the municipality of Pregny-ChambÉsy and the other shareholders decided to hand over control of the remaining 75 per cent to upc cablecom with effect from 1 July 2014. Ivan Nash Vila, upc cablecom's Chief Financial Officer, is pleased about the decision: "This transaction confirms the strategic importance of French-speaking Switzerland for upc cablecom and our willingness to invest in this region."
Nothing will change for customers, since upc cablecom - a subsidiary of Liberty Global - already offers all of its digital products (digital TV, Internet and telephony) in the Geneva municipality. Philippe Schwarm, municipal councillor of Pregny-ChambÉsy, is convinced that his municipality has made the right decision by handing over full control of the cable network to upc cablecom. "Our cable network is now in the hands of professionals who are in a position to develop it further under the best possible conditions. The future of our cable network has been secured by the sale," says Schwarm. "What is more, customers are now able to purchase TV, Internet, fixed network and mobile telephony from the same provider."
Media release, 2 July 2014 (pdf)