UK-based Liberty Global has agreed to sell its UPC-branded cable provider in Austria to Deutsche Telekom’s T-Mobile Austria for an enterprise value of EUR1.9 billion (USD2.3 billion), Reuters writes. Liberty Global will provide certain transitional services for a period of up to four years, mainly network and information technology-related functions, and allow T-Mobile Austria to use the UPC brand for up to three years, it said. Mike Fries, Chief Executive of Liberty Global, said: ‘The combination of UPC Austria and T-Mobile Austria will provide the national scale necessary to compete with larger companies like A1.’ The deal is not expected to close until the second half of 2018, the company said.
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