Private equity firm The Carlyle Group has acquired an 85% stake in Spanish cable operator Telecable.
Spain’s Liberbank will retain a minority stake in the regional cabler. The transaction values the company at €400 million.
Telecable has 156,000 fixed and mobile voice and internet customers and posted revenues in excess of €121 million in 2010. The company was founded in 1995 and is headquartered in Oviedo.
Alex Wagenberg, managing director of Carlyle’s European buyout team, said: “Telecable has historically delivered strong performance and we look forward to supporting its growth in partnership with its talented management team”.