German cableco Tele Columbus has reportedly invited banks to bid to participate in an IPO it is considering in Frankfurt in the second half of the year.
The company, Germany’s third largest cableco after Kabel Deutschland (KDG) and Unitymedia Kabel…
German cableco Tele Columbus has reportedly invited banks to bid to participate in an IPO it is considering in Frankfurt in the second half of the year.
The company, Germany’s third largest cableco after Kabel Deutschland (KDG) and Unitymedia Kabel BW, may choose banks for the transaction as early as this month, Reuters reported citing three people familiar with the matter.
Tele Columbus, owned by several hedge and credit funds via a Luxembourg-based holding company, declined to comment.
The Hanover-based cableco has been up for sale repeatedly in the past but failed to find a buyer.
In 2013, KDG, now owned by Vodafone, made an unsuccessful attempt to acquire Tele Columbus, meeting resistance from the German antitrust regulator.
Tele Columbus has also sought to play an active role in in-market consolidation, making a takeover offer for smaller rival Primacom last year. However, Primacom rejected the offer, saying it considered itself a buyer rather than a seller. This March, Primacom acquired smaller player DTK Deutsche Telekabel in a deal it contended is likely to trigger further consolidation.
Tele Columbus reported sales of €224m in 2013 and EBITDA of €90m.
