Sale of PrimaCom is cancelled

Jörn Krieger | 23-09-2012

German cable operator PrimaCom will not be sold. The discussions with interested parties have been closed without success, according to the Leipzig-based company.

The offers have not met the necessary valuation criteria, the cable operator said. The decision to start talks regarding a possible takeover were initiated due to the "strong interest" received from third parties, said Harald Stöber, chairman of the supervisory board of Medfort, the Luxembourg-based parent company of PrimaCom group.

"In the end, the offers did not fulfil the high expectations," Stöber explained. He added that PrimaCom would now - with the support of its shareholders - continue to deploy its growth strategy.

With around one million households served, PrimaCom is Germany's fifth-largest cable operator. In May 2012, it became known that the backers - financial investors and banks - have entered discussions with regards to a possible sale. The interested parties are thought to have included Deutsche Telekom, DTK Deutsche Telekabel, Star Capital Partners, Unitymedia and a financial investor