Pepcom buys HL komm in Germany -
Pepcom buys HL komm in Germany
Jörn Krieger ©RapidTVNews | 22-06-2012
The consolidation in Germany's cable industry continues: Cable company Pepcom wants to take over Leipzig-based regional market player HL komm for around €50 million.
Leipzig's city council approved the sale of 100% of the shares in the company currently owned by the city's public utility subsidiary Stadtwerke Leipzig at its latest meeting. Germany's federal anti-trust authority Bundeskartellamt still has to approve the deal.
According to the council, Pepcom guarantees for HL komm's headquarters to remain in Leipzig until at least 2020 and rules out redundancies due to operational conditions until 2016.
HL komm offers telephony and internet for private and business customers as well as a cable TV package under the brand "an!" in cities in eastern Germany such as Leipzig, Halle, Dresden, Erfurt, Magdeburg, Chemnitz and Jena.
With more than 750,000 households served, Pepcom is Germany's fifth-largest cable operator. The Munich-based company has been in the hands of UK financial investor Star Capital Partners since 2010.