Euskaltel still interested in Telecable, says chief executive

Basque Country cable operator Euskaltel’s chief executive Alberto Garcia Erauzkin has indicated he would still be interested in acquiring Asturias region operator Telecable, which was recently purchased by UK-based investment group Zegona Communications.

Speaking at a regional development conference, Erauzkin said that an acquisition of Telecable, which would unify all three northern Spanish regional cable operators, could be a possibility for the future. However, Euskaltel’s initial priority is to close the acquisition of Galicia-region operator R, he said.

The R acquisition has still be secure approval from Euskaltel’s shareholders as well as approval by the Spanish competition authority.

Separately, London-based Zegona reported losses after tax of £690,661 for the period from its incorporation on January 19 to June 30. The group incurred administrative expenses of £693,825 for the same period and received interest of £3,164. The outfit hald a chash balance of £27,826,877 as of June 30.