Liberty Global Sells UPC France

Liberty Global Inc. will sell 100% of its French cable business, UPC France SA.

The company entered into a nonbinding letter of intent with Altice and Cinven Ltd. to sell the French operator for approximately $1.51 billion in cash, assuming zero net debt at closing.

Liberty Global said the sale price represents a multiple of approximately 11.4 times UPC France's 2005 operating cash flow.