Kabel Deutschland eyes IPO
Written by Jörn Krieger
Sunday, 24 January 2010 10:04

Germany’s largest cable operator Kabel Deutschland is apparently eying a stock market flotation. The preparations for an IPO this summer are running at full stretch reports news agency Reuters, quoting sources familiar with the situation.

Some bankers even suggest that the float would be possible as early as in the second quarter, the volume amounting to more than €1bn. However, no investment bank to handle the move has been appointed yet, an insider stressed, adding that the company would prefer an IPO, but would look into a possible sale in parallel. “If an attractive offer comes in, a flotation can always be cancelled at the last minute”, said the source.

According to financial circles, several parties have already indicated their take-over interest to KDG, with US-based media concern Liberty Global and UK-based mobile network operator Vodafone believed to be amongst them. KDG, which serves around 9 million households in 13 federal states, is owned by financial investor Providence Equity Partners. Bankers value the company at around €5bn. A KDG spokesman declined to comment on the report.