Reports suggesting Swedish cableco Com Hem’s owners are considering a sale of the group have begun circulating the press once again after a lull since December.
PE firms Carlyle Group and Providence Equity Partners are in early talks to launch a…
Reports suggesting Swedish cableco Com Hem’s owners are considering a sale of the group have begun circulating the press once again after a lull since December.
PE firms Carlyle Group and Providence Equity Partners are in early talks to launch a dual-track process for Com Hem this year, prompted by investor appetite for cable assets, reported Dow Jones on Wednesday citing sources.
It is understood that Com Hem’s buyout owners were waiting for German cableco Kabel BW’s own sale to be resolved before pressing ahead with its plans. Earlier this week, US media giant Liberty Global announced intentions to buy Germany’s number three cableco for E3.16bn. This acquisition is still awaiting regulatory approval.
Dow Jones reported that banks had yet to be hired for the sale of Com Hem because negotiations were at an early stage, although this contrasts with TelecomFinance’s understanding that Deutsche Bank and Morgan Stanley would advise on the process.
Carlyle and Providence acquired Com Hem in early 2006 for approximately US$1.2bn, and reports suggest the group could now fetch E1.4bn-E2bn.
Telcos TeliaSonera, Telenor, TDC, Tele2, Liberty Global and 3 are all widely expected to show interest in the company.
Com Hem was unable to comment before the press deadline.
