Teleste buys German cable trio
Three German cable service companies have been acquired by the services division of Teleste Corporation in deals totalling €8.7 million. MKS companies, Young-Net GmbH and Antel GmbH specialise in the upgrade of and maintenance of cable systems.
MKS and Young-Net operate in North Rhine-Westphalia, Lower Saxony and Rhineland-Palatinate, while Antel’s activities are in Bavaria. Services are provided both directly and through the affiliated company Cableway, in which Teleste’s own holding has risen to 50%.
Former owners Volker Meyer (MKS), Tobias Jung (Young-Net) and Josef Würtz (Antel) will continue to manage their respective companies.
The acquisitions make Teleste one of the key service providers for German cable, reaching some 20 million end users.