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Cable Platform | Czech Republic
Initial investment date: April 1997

Realisation date: April 2005

Trade: Cable TV

Business description:
Founded in 1989 as the first cable company in the Czech Republic, Karneval operated cable television systems throughout the Czech Republic and northern regions of Bohemia. When GMT invested in April 1997, Karneval networks covered over 50 towns and it was the second largest cable operator in the country. Karneval franchises comprised of 500,000 households, approximately 70% of which were high density apartment complexes typical of former communist countries. Upon investment, GMT helped source the acquisition of the second largest cable TV operator in the Czech Republic, resulting in a combined entity with over 250,000 subscribers. GMT subsequently sold its interest in Karneval to its co-shareholder AIG’s Emerging Europe Infrastructure Fund in April 2005.

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