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@mikojan http://quote.bloomberg.com/fgcgi.cgi?T=marketsquote99_news.h… PrimaCom, UPC Withdrew German Merger Application (Update1) By Julia Werdigier Frankfurt, Nov. 26 (Bloomberg) -- PrimaCom AG and United Pan- Europe Communications NV withdrew an application filed with the German cartel office to clear the merger of the German cable- television company with UPC`s EWT/TSS cable unit. The two companies withdrew the application because they need more time to discuss details of the merger, PrimaCom spokesman Alexander Hoffmann said in an interview, adding that the negotiations between PrimaCom and UPC are continuing. The companies give themselves until Dec. 15 to agree on details and may file another merger application with the cartel office, Hoffmann said. The companies won Dutch approval of the combination in July. The withdrawal of the clearance application comes after PrimaCom and UPC have twice extended merger talks in the past. Financial Times Deutschland reported in August that Liberty Media Corp., which agreed to buy a controlling stake in UPC`s parent company UnitedGlobalCom Inc., is itself preparing an offer for PrimaCom. Liberty is currently awaiting the cartel office`s clearance for its 5.5 billion euros acquisition of six German cable networks. The cable-TV company run by John Malone has been looking to expand further in Germany and agreed to buy part of Deutsche Bank AG`s TeleColumbus cable unit. PrimaCom`s second-quarter loss more than doubled to 25.8 million euros ($22.7 million) on asset writedowns, it said in August. A merger with UPC`s EWT unit will help the company boost its operating business and get financing, analysts have said. PrimaCom`s shares were unchanged at 4.08 euros, valuing the company at about 80.8 million euros. The shares have fallen 65 percent this year while the Neuer Markt index has declined 54 percent. UPC stock fell as much as 2 cents, or 3.28 percent, to 59 cents. |
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| aus der Diskussion: | PRIMACOM THEAD 99 (LIBERTY BRAUCHT LEVEL 4) |
| Autor (Datum des Eintrages): | Krisenmanager (27.11.01 10:40:08) |
| Beitrag: | 111 von 162 (ID:4981309) |
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