Liberty closes in on Deutsche Telekom deal


Liberty Media Corp. and Deutsche Telekom are nearing a deal for Liberty to buy six of the German telecom company's regional cable networks, The Wall Street Journal reports.

The deal is part of a continuing Liberty initiative to build its presence in the European broadband market. Liberty already holds sizable stakes in Holland's United Pan-Europe Copmmunications and the UK's Telewest Communications.

Liberty plans to launch several hundreds of millions in euros in the cable services, with a reach of 10 million cable households, when the the deal closes.