German cable operator Tele Columbus says it aims to take a leading role in the further consolidation of German cable following its securing of long-term finance that it says will enable it to more intensively upgrade its infrastructure and post double-digit operating profit by 2017.
The operator has secured a long-term extension of credit to the amount of €300 million. Tele Columbus plans to use the capital to invest in its network to deliver high-speed broadband and telephony.
“The completion of refinancing marks a major breakthrough in the company’s development,” said Ronny Verhelst, CEO of the Tele Columbus Group. “With the investment framework available to us, we can continue to fulfill the individual technical needs of our housing industry partners and end customers and increase our attractiveness as a provider. Our goal is quite clear – growth in our existing networks as well as expansion beyond our own infrastructure, provided that attractive opportunities arise on the market.”
Tele Columbus currently counts 1.8 million connected households, mostly in the eastern part of the country.