Liberty wins race to buy Kabel BW

Media mogul John Malone's Liberty Global will buy Kabel BW after private equity firm CVC declined to raise its offer in a fierce battle for the German cable operator. The deal values Kabel Baden Wuerttemberg at €3.16bn (£2.75bn), its parent, Swedish buyout firm EQT, said yesterday. Over the weekend, Liberty edged ahead in the auction, in which CVC had previously looked a likely winner with its €2.95bn bid. However, CVC declined to raise its bid any further, according to sources close to the talks.