Cableco Telenet could still be negotiating for French rival Numericable’s assets in Belgium and Luxembourg, contrary to reports that it is no longer interested, TelecomFinance understands.
According to reports, Telenet has withdrawn from the race to…
Cableco Telenet could still be negotiating for French rival Numericable’s assets in Belgium and Luxembourg, contrary to reports that it is no longer interested, TelecomFinance understands.
According to reports, Telenet has withdrawn from the race to acquire the Numericable units.
But one source close to the process said the cash-rich company, previously considered the frontrunner for the assets, was “definitely still in the negotiations”.
However, other sources close to the deal suggested Telenet was no longer in the process.
Even still, although only Walloon cable operator Woo and PE firm Apax are said to be the two candidates remaining in the race, a source added there was a possibility that Telenet could be called back. Telenet, which is thought to have hired Credit Agricole and Lazard as advisers, could possibly be asked to improve on final bids expected to be placed this week.
In a separate report, Duco Sickinghe, CEO of Telenet, which operates in Flanders and Brussels, is cited welcoming opportunities to partner with Woo to cover more of Belgium.
It is not clear whether such partnerships could include a joint bid in private equity-backed Numericable’s sale.
Rothschild has been appointed to run the tender.
Numericable’s equity is shared almost equally between three PE firms: Altice and Cinven, which both bought into the group in 2004, and Carlyle, which joined the investors in 2008. Telenet declined to comment.
Still eyeing mobile Numericable’s Belgian unit is planning to add mobile services to its product portfolio.
In an email to TelecomFinance, a spokesperson for the group said: “Numericable plans to add a mobile component to its best in class [triple play] offers and is currently investigating several options: MVNO, 3G and 4G.
Possibly with partners.” The operator currently provides cable TV, broadband internet and fixed-line telephone services. Belgium is holding a 4G licence auction this year, but the deadline for operators to submit their interest was in early February.
