Carlyle takes 85% of Telecable
10.01 Europe/London, October 19, 2011 By Julian Clover The Carlyle Group has emerged victorious in the race to acquire the Spanish regional cable operator Telecable.
The private equity firm will take 85% in Telecable de Asturias S.A.U. in a transaction that values the company at €400 million. Liberbank will retain a minority share.
Last July, Telecable won a licence in the auction of wireless spectrum to operate a mobile LTE network in Asturia in the 2.6 GHz band for an amount of €708,317.
In a statement, Carlyle said it was committed to supporting the kind of growth and innovation that led to Telecable becoming the first operator in Spain to offer HD services.
Alex Wagenberg, Managing Director in Carlyle’s European buyout team, said: “Telecable has historically delivered strong performance and we look forward to supporting its growth in partnership with its talented management team”. Wagenberg also said: “the continued involvement of Liberbank retains the strong Asturian personality of the company, which we believe is one of the keys to its current and future success.”
Carlyle’s previous cable investments include Sweden’s Com Hem, the French Numericable and the Dutch Casema, now Ziggo.