Cabovisão to be sold

11.39 Europe/London, November 25, 2011 By Chris Dziadul

The Portuguese cable operator Cabovisão is understood to be up for sale.
Several reports indicate that its Canadian owner Cogeco Cable started seeking a buyer earlier this year and has already approached several Portuguese and international operators, as well as private equity firms.
An agency report has meanwhile quoted Cabovisão’s MD Martinho Tojo as saying that he regards consolidation in the Portuguese telecom market as inevitable, though it isn’t his objective to sell the company.
Cabovisão has had a troubled year, with Cogeco taking a non-impairment loss of $29.3 million (€20.9 million) in the third quarter.