Providence Equity Partners to Complete Takeover of Kabel Deutschland

Providence Equity Partners to Complete Takeover of Kabel Deutschland

LONDON and UNTERFOEHRING, Germany, January 23/PRNewswire/ -- Providence Equity Partners announced today that it has now received
clearance from regulatory authorities in Germany to complete its takeover of
Kabel Deutschland (KDG).

Providence Equity agreed in December 2005 to buy out the KDG stakes owned
by fellow shareholders Apax Partners and Goldman Sachs Capital Partners.
Following the regulatory approval, the transaction will close by February 8,
2006. The acquisition will give Providence control of approximately 95% of
Europe's largest cable company with the rest held by KDG's management. Terms
of the acquisition were not disclosed.

Providence Equity which holds substantial investments in European cable
companies in the Netherlands, Spain and Sweden (pending), is supporting KDG's
strategy to transition from a traditional analog cable TV company into an
innovative provider of cable services including pay-TV, Broadband Internet
and Telephony. KDG will invest significantly into the network and accelerate
the upgrade of ist cable network and offer triple play services to close to
90% of ist 15.3 million homes passed in Germany. KDG operates the cable
networks in 13 German states and generated sales of more than EUR1 billion in
the financial year ended March 2005.

About Kabel Deutschland:

Kabel Deutschland is the largest cable network operator in Europe,
connecting 9.6 million households in thirteen German states. KDG owns and
operates the network infrastructure, is responsible for the marketing of
cable access, as well as other related services, and develops new digital TV
and high-speed internet services. The company's digital TV service provides a
platform that is open to all content providers. In 2003, KDG was acquired
from Deutsche Telekom by a consortium of financial investors comprised of
Apax Partners, Providence Equity Partners and Goldman Sachs Capital Partners

About Providence Equity Partner Inc.:

Providence Equity Partners Inc. is a global private investment firm
specializing in equity investments in media, communications and information
companies around the world. The principals of Providence Equity manage funds
with over US$9.0 billion in equity commitments, including Providence Equity
Partners V, a US$4.25 billion private equity fund, and have invested in more
than 80 companies operating in over 20 countries since the firm's inception
in 1990. Significant investments include VoiceStream Wireless, PanAmSat,
Western Wireless, eircom, Casema, Comhem, Metro-Goldwyn-Mayer,
ProSiebenSat.1, Ono, Warner Music Group, Recoletos, and Bresnan Broadband
Holdings. Providence Equity has offices in Providence, Rhode Island, London,
England, and New York, New York.

Contact for press:
Roland Klein
+44-7776-162-997
roland.klein@cnc-communications.com

Source: Kabel Deutschland

Contact for press: Roland Klein, +44-7776-162-997, roland.klein@cnc-communications.com

-------
Profile: intent