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KDG confirms IPO plan

German cable operator Kabel Deutschland (KDG) has confirmed that it will launch an IPO on the Frankfurt stock exchange.

The company to be listed, Kabel Deutschland Holding GmbH, will ultimately be converted into a stock corporation. The IPO will only comprise shares sold by the existing shareholder. Providence Equity Partners, KDG’s majority owner, has not revealed details of the size of stake it plans to float or given details of the expected timing of the listing.