Prague, Aug 10 - Liberty Global, mother firm of the largest cable operator in the Czech Republic, UPC, will buy number two company Karneval for euro322.5 million, Liberty Global said in a press release on Wednesday.

Liberty Global expects to complete the transaction by the year's end after approval by regulatory bodies. Karneval had 310,000 customers in mid-year, with 253,000 households using cable television and 57,000 high-speed internet. The new operator will have more than 800,000 clients and it will offer cable television, high-speed internet and telephone services.

The hitherto majority owner of Karneval is the EMP Europe investment company. Baring Communications Equity Emerging Europe is a minority shareholder.

UPC has more than 500,000 customers. It offers cable television to 300,000 households and satellite reception to some 120,000 households. High-speed internet customers total about 100,000 and thousands of people use UPC telephone services, according to unofficial estimates.