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Unitymedia to announce IPO next week

Unitymedia is set to announce its plans for an IPO next Tuesday.

The German cable operator will use the release of its third quarter results next week to announce plans to float, according to local reports. The IPO will be for a small tranche of the company’s shares. Previous reports suggested Morgan Stanley and UBS had been appointed to arrange the IPO, which could raise €300m.

Unitymedia, which was acquired by BC Partners and Apollo for €1.5bn in 2003, ended June with 4.6 million basic cable subscribers and 469,000 digital pay-TV customers.