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Unitymedia planning partial flotation

German cable operator Unitymedia is preparing for a partial IPO early next year, according to a report in the Financial Times.

Germany’s second-largest cable operator is preparing to carry out a partial flotation as soon as private equity owners BC Partners and Apollo agree that the time is right. The Financial Times, citing unnamed bankers, said UBS and Morgan Stanley have been preparing an IPO for the past year.

BC bought Unitymedia with Apollo for €1.5bn in 2003.