Jörn Krieger ©RapidTVNews | 05-08-2011
A financial investor is apparently interested in taking over Germany’s fourth-largest cable operator Tele Columbus, according to Reuters.
Several people familiar with the situation told the news agency that negotiations are currently underway. The name of the company, which is said to have experience in the cable industry, was not disclosed, but BC Partners, CVC and EQT were ruled out.
A possible purchaser could be financial investor Providence which pulled out of market leader Kabel Deutschland one month ago, and therefore would not face anti-trust problems with the Cartel Office. As for the price tag, industry sources suggest €600 to €700 million.
Tele Columbus has experienced severe financial difficulties in the past. In January 2011, insolvency was avoided after the creditors renounced from claiming back loans of a total of over €400 million and poured €35 million fresh capital into the company. In return, they took over ownership control.