A consortium of companies led by John Malone's Liberty Media Group has struck a deal to buy a 55% stake in six German cable TV companies owned by Deutsche Telekom for $2.5 billion, The Wall Street Journal reports.
Liberty and Deutsche Telekom reportedly signed a letter of intent on the deal in London on Thursday. The group has an option to raise its stake in the German cable properties to 75% of the available shares. Those cable systems, in Bavaria, Berlin, Brandenburg, Hamburg, and several other markets, currently reach 10 million cable subscribers.
Liberty unveiled a $1.4 billion cash deal Friday to become the largest shareholder in UnitedGlobalCom, a major European cable TV and telco player.