Euskaltel


Euskaltel names new administrative council VP

Spanish regional cable operator Euskaltel has named José Ángel Corres Abásolo as vice-president of its administrative council, replacing cable and pay TV veteran Richard Alden. Corres, who was previously an independent advisor to the Basque Country operator, will also take over from Alden as president of the company’s appointments and remuneration committee. Alden will continue […]

Euskaltel closes R Cable acquisition

Spanish Basque Country cable operator Euskaltel has closed the acquisition of R Cable, the regional operator in Galicia, following a capital increase of €255 million, its ultimate step in financing the purchase. Euskaltel has acquired R for a total of €1.19 billion, including debt. The Basque operator extended its lines of credit with its banks […]

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 […]

Telecable buyer Zegona looking to create £1-3bn company

Zegona Communications, the UK-based investment group that acquired Asturias region cable operator Telecable earlier this year, aims to create a business worth between £1 billion (€1.36 billion) and £3 billion through its ‘buy-fix-sell’ strategy of acquiring and restructuring European cable and telecom businesses. According to the company’s share prospectus, published ahead of Zegona’s completion of […]

CNMC approves Telecable acquisition

Spanish competition watchdog the CNMC has approved the acquisition of regional cable operator Telecable by UK-based investment group Zegona Communcations. Zegona, headed by former Virgin Media executives Eamonn O’Hare and Robert Samuelson, agreed to acquire the Asturias region operator last month for €640 million in a deal that followed hard on the heels of Basque […]

Former Virgin Media execs’ outfit buys Spain’s Telecable for €640m

UK-based investment group Zegona has acquired the smallest of Spain’s three independent cable operators, Telecable, for €640 million. Zegona’s deal to buy Telecable, which operates in the Asturias region of northern Spain, followed hard on Basque region operator Euskaltel’s agreement to acquire Galician operator R for €1.155 billion. Euskaltel was seen as the most likely […]

Euskaltel acquires R for €1.155 billion

Basque region cable operator Euskaltel has acquired Galician operator R for €1.155 billion including debt, in a cash and shares transaction, confirming its role as the consolidator amongst the three independent operators in the northern part of Spain. The deal values R, which is 70% owned by investment group CVC and 30% by local bank […]

Speculation mounts on Euskaltel bid for Telecable

Speculation is mounting that Basque region cable operator Euskaltel could make a bid for Asturias operator Telecable following a reported postponement of the deadline for bids for the latter by private equity owner Carlyle from July 13 to July 24. The postponement is seen as giving time for Euskaltel to do the necessary due diligence […]

Blackrock takes stake in Euskaltel

Private-equity group Blackrock has acquired a 3.6% stake in Basque Country cable operator Euskaltel, which successfully debuted on the Bilbao stock market last week. Euskaltel’s other key investors remain regional bank Kutxaband, with a 30.1% stake and Corporación Financiera Alba, with 8%. Following its IPO on Wednesday, with shares priced at €9.50, in the middle […]

Carlyle reportedly looking at Telecable sale

Private equity outfit Carlyle could sell its controlling stake in Spanish regional cable operator Telecable, according to press reports. According to Reuters, citing two sources with knowledge of the matter, Carlyle has hired Goldman Sachs to advise on a possible sale of its 85% stake in the operator, which runs networks in the Asturias region […]