UK broadband net additions in Q3 2008 fell sequentially, the first time this has happened in a third quarter. Q3 net adds almost halved year-on-year to 320,000
Prisa, the 98% owner of Sogecable, has put Spain’s leading pay-TV platform Digital+ up for sale in order to make a large reduction in its debts
The long drawn out merger between the two Spanish pay-TV operators will finally be consummated in the next few weeks. As we have seen elsewhere in Europe, competition in pay-TV produces little but red ink. Investors will be pleased that Sogecable and Via Digital are finally combining. We have little doubt that this merger will eventually produce a profitable and successful business. But management appears too optimistic about the likely continuing cash drains as operations are combined and costs reduced over the next two years.