Vebacom GmbH, the telecommunications joint venture between Veba AG and Cable & Wireless Plc yesterday confirmed press reports that it is to buy Urbana Telekommunikation AG in a $320m transaction. The deal will make Vebacom the second largest cable television operator in Germany behind Deutsche Telekom AG. Terms of the agreement were not given. Deutsche Telekom has some 5.5 million cable television connections and Vebacom, via its Concepta and Telecolumbus units, currently has about 1.2 million connections and it would add another 550,000 with Urbana, increasing its market share to 10% from 7%.
