German cable operator Kabel Deutschlands (KDG) owners Providence Equity Partners are believed to be moving towards an IPO for the company rather than a sale, according to press reports.
A number of private-equity companies are believed to have offered between Â5-5.5bn for the operator, which is 88%-owned by Providence Equity. However, the prospects of a buyout have been diminished in recent days because of problems with the high-yield bond market, seen as key to putting a deal together, leading to speculation that the operatorÂs owner would postpone a sale.
ReportsÂ by Bloomberg and Reuters, citing sources with knowledge of the matter, now suggest KDG may be preparing the flotation of a minority stake as an alternative, allowing Providence to maintain a majority share in the company.Â
According to a Financial Times report yesterday, Providence hopes to raise about Â1bn from the IPO. Providence is believed to have favoured a flotation before the recent flurry of interest from private-equity groups in acquiring the operator.
ICYMI: O2 says it has ‘addressed concerns’ over Virgin Media merger in record quarter for Telefónica… twitter.com/i/web/status/1…
25 February 2021 @ 21:00:00 UTC
ICYMI: BritBox appoints ITV SVOD chief Reemah Sakaan to become international CEO digitaltveurope.com/2021/02/25/bri… https://t.co/c9MJzgaWty
25 February 2021 @ 20:00:00 UTC
Bharti Airtel launches advertising business digitaltveurope.com/2021/02/25/bha… https://t.co/eSvlFA3Jsh
25 February 2021 @ 17:00:00 UTC