To: xcr600 who wrote (340 ) 3/5/1999 7:56:00 AM From: Techplayer Respond to of 489
Not a response, but UPCOY news... March 5, 1999 07:00 AM DENVER, March 5 /PRNewswire/ -- United International Holdings, Inc. ("UIH") UIHIA announced today that its consolidated subsidiary, United Pan-Europe Communications N.V. ("UPC") UPCOY , has reached final agreement with Siemens Austria (Siemens) to purchase Siemens' 95.63% interest in SKT s.r.o.'s ("SKT") 156,000 subscriber cable TV system in Bratislava, Slovak Republic. The completion of the purchase is subject to obtaining the approval of the regulatory authorities. The purchase price for the 95.63% interest is approximately US$41 million (US$275 per subscriber). Located in the capital of the Slovak Republic, SKT is the largest cable television operator in the country and will be operated in conjunction with UPC's 25,000 Slovak subscribers. The SKT system is able to offer both video and data services and has been constructed to the European 860 MHz standard. UPC will add the capability of voice telephony in the not too distant future. Mr. Gene Schneider, CEO and Chairman of UIH, stated, "We are pleased to acquire the Bratislava system as this continues our aggressive expansion of our subscriber base for video, voice and data services globally. The system is strategically located within our telecommunications networks in Central and Eastern Europe (Hungary, Czech Republic, Slovak Republic, and Romania) and is very near one of our Austrian system's fiber distribution nodes, giving Bratislava easy access to the rest of Europe. With this acquisition, UIH increases its subscriber count in the area to over 750,000." UIH is a leading provider of video, voice, data and programming services outside of the United States, with operations in 20 countries throughout the world. UIH's operating systems cover approximately 12.1 million homes in franchise areas and 9.7 million homes passed, and serve approximately 4.4 million video subscribers, over 115,000 telephony access lines and over 22,000 internet access subscribers. Additionally, UIH programming services reach over 5.0 million subscribers worldwide. Headquartered in Amsterdam, UPC is one of the largest broadband communications companies in Europe, providing cable television, telephony, internet and programming services. UPC's systems have approximately 5.9 million homes in their franchise areas, with approximately 4.6 million homes passed. Nearly 3.4 million of these homes subscribe to UPC's cable television services and the systems have over 86,000 telephony access lines and about 21,000 internet access subscribers. UPC recently completed its initial public offering and is traded on the Amsterdam Exchange ("UPC") and Nasdaq ("UPCOY"). Microsoft Corporation has an ownership interest of approximately 7.8% in UPC. SOURCE United International Holdings, Inc.