Thursday, January 18, 2007

Can't stand still

A Palladium Class mega-uber value reader in the Netherlands alerts me to the fact that UPC's appeal of the previous negative ruling in its petition for a standstill of the Amsterdam fiber project has been rejected today. Given Liberty Global's recent tendency to exit mature markets which have gotten too hot and redeploy capital where returns might be better, I have to wonder if this is another step towards an eventual exit from the homebase? I know it sounds ridiculous, but with the other two cable majors having taken the private equity exit, and with fiber hell breaking loose around it, how long does one wait before valuations really take a beating?

UPDATE: A Palladium Club mega-uber value reader points out that indeed rumors of a super-troika merger between UPC and the PE-backed Casema and Essent were spreading even as I wrote the above.

No comments: