Carlyle Group buys into Telecable
Iñaki Ferreras ©RapidTVNews | 09-12-2011 Northern Spanish regional cable operator Telecable has been finally bought out by financial company The Carlyle Group.
In a first phase the country's Competition National Commission (CNC) authorised the acquisition of 85.1% of the operator and at the end of October 2011 the investment fund group reached an agreement with financial company Liberbank and local media group Editorial Prensa Ibérica—the principal Telecable shareholders—to acquire this stake.
The whole operation from the Carlyle Europe Partners III (CEP III) fund is said to be worth €400 million with Liberbank reportedly receiving just over €307 million for selling its stake of Telecable. It will carry on being one of the cable operator's shareholders with a 15% holding