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Tele Columbus close to assets sale

German cable operator Tele Columbus is preparing to sell part of its assets to an undisclosed buyer, putting an end to discussions with rival operator Kabel Deutschland (KDG), according to press reports.

According to sources cited in the report, the price offered by KDG was too low.

The sale process regarding parts of Tele Columbus’s network began earlier this year when Citigroup was hired to advise on the potential sale. In addition to the discussions with KDG over part of the network, talks are continuing with another potential buyer of other assets in the western half of Germany.

Creditors recently agreed to the restructuring of Tele Columbus’s debt that has reduced the amount from €947m to €631m.