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Cogeco dumps Cabovisao on Altice


Published: 2 March, 2012


Canada's Cogeco Cable has ended its disastrous experiment to invade pay TV in Europe selling off its Portuguese subsidiary, Cabovisao to private equity group Altice. Altice already is a part owner of dominant French cable operator Numericable with Cinven and the Carlyle Group and still holds a stake in the Belgian and Luxembourg branch of Numericable which was sold of late last year.

The deal was done for a mere €45 million, and comes after Cogeco wrote

Cogeco is the second largest hybrid fiber coaxial cable system operator in Ontario

and Quebec and its shares are listed on the Toronto Stock Exchange. Cogeco acquired Cabovisao for $660 million in 2006. Cabovisao has over 260,000 TV homes, is growing slightly and has about two thirds of the network as digital. The Portuguese market is slow, but nowhere near as slow as neighboring Spain, which has lost pay TV customers across all


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