UPC Invests in Czech, Hungarian Cable Companies

LONDON (03/29/2000) - Dutch cable company United Pan-Europe Communications NV (UPC) has strengthened its position in central Europe by acquiring two companies in the Czech Republic and one in Hungary, the company said today in a statement.

UPC has signed an agreement to acquire Prague-based cable television operator Dattelkabel AS for 28.3 million euros (US$27.2 million), according to the statement.

The company has also increased its majority holding in the Czech cable system company Cable Plus to over 99.9 percent from a former 97.1 percent, at a cost of 3.9 million euros, it announced.

In Hungary, UPC has also closed a deal to buy out the 20.75 percent minority stake held in UPC Hungary by the First Hungary Fund. This makes UPC the sole owner of UPC Hungary, a transaction which cost 63.9 million euros, the company said.

UPC, in Amsterdam, can be reached at +31-20-7789-840 or on the Web at http://www.upccorp.com/.

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