Cablecom Agrees to Liberty Takeover, Cancels Planned IPO

Brussels -- Cablecom, the largest cable operator in Switzerland,
announced that it has cancelled plans for an initial public offering (IPO)
later this year after accepting a 1.8-billion-euro takeover bid from
Liberty Media, the U.S.-based group controlled by media mogul John
Malone. Cablecom released the details of the IPO -- which would have
been the largest in Switzerland in four years, valuing the company at as
much as 2.2 billion euro -- on Thursday. Liberty is buying Cablecom
from a group of major shareholders led by Apollo Management,
TowerBrook Capital Partners and Goldman Sachs affiliates, which
acquired their stake as part of a debt-for-equity swap in 2004 after the
cable operator was spun off from NTL Inc.
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