European cable operator UnitedGlobalCom (UGC) has bought Irish cable operation Chorus in a $55 million stock deal from Liberty Media International.
UGC acquired the ownership interest in Chorus in exchange for 6.4 million shares of its stock valued at about $55 million.
Chorus, Ireland's second-largest cable television and MMDS operator, has €80.1 million of indebtedness that UGC will take on.
Mr Mike Fries, president and chief executive officer of UGC, said: "These acquisitions strengthen our position as the leading broadband operator in Europe."
