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Peer Comparison: Three European Cable Operators Dec 05

  • ID: 1784084
  • December 2005
  • Region: Europe
  • Standard & Poors

FEATURED COMPANIES

  • Cablecom Holdings AG
  • Cableuropa S.A.U.
  • Kabel BW GmbH
  • Proximus S.A.
  • Sky PLC
  • UnitedGlobalCom Inc.
  • MORE

Abstract
The year 2005 has been another active one for European cable. There have been ownership changes in nearly all of the countries with rated cable operators, and further developments in business models--either toward a triple play or the potential addition of other services to the core cable business. Germany-based Kabel Deutschland GmbH (KDG; B+/Stable/--), Belgium-based Telenet Communications N.V. (B+/Stable/--), and U.K.-based Telewest Communications Networks Ltd. (BB-/Watch Neg/--; soon to be merged with NTL Inc. {B+/Watch Dev/--}) represent a good cross-section of Europe's cable industry, and, although they have similar ratings, each player operates its own business model and carries a different level of leverage. The remaining rated cable entities in the region-- Cablecom Holdings AG (B/Stable/--), Cableuropa S.A.U. (B/Stable/--), Kabel...

Companies mentioned in this report are:
- British Telecommunications PLC
- Proximus S.A.
- Sky PLC
- UnitedGlobalCom Inc.
- Virgin Media Holdings Inc.
- Cableuropa S.A.U.
- Telewest Communications Networks Ltd.
- Telenet Communications N.V.
- Cablecom Holdings AG
- Tele Columbus GmbH & Co. KG
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Note: Product cover images may vary from those shown

- British Telecommunications PLC
- Proximus S.A.
- Sky PLC
- UnitedGlobalCom Inc.
- Virgin Media Holdings Inc.
- Cableuropa S.A.U.
- Telewest Communications Networks Ltd.
- Telenet Communications N.V.
- Cablecom Holdings AG
- Tele Columbus GmbH & Co. KG
- Kabel Deutschland Vertrieb und Service GmbH
- Kabel BW GmbH
- Unitymedia Management GmbH

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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