Germany's competition bureau has moved to block an attempt by the country's biggest cable television firm to buy three smaller regional rivals. Cable company Kabel Deutschland said yesterday that the federal cartel office was still opposed to its $3.3-billion (U.S.) deal to buy the companies, despite its offer to dramatically increase spending to upgrade Germany's cable network so it can handle Internet traffic. The cartel office first expressed its doubts about the deal in August, suggesting the acquisitions would create an overly dominant player in the cable market. Kabel Deutschland sweetened its investment plans to try to win approval. A final decision from the regulator is expected in October. Kabel Deutschland is backed by international investment firms Apax Partners, Goldman Sachs Capital Partners and Providence Equity Partners.
Reuters