PE firms Carlyle and CVC Capital Partners, as well as the cable operator Ono, reportedly submitted bids to acquire a stake in Spanish cableco Telecable before the deadline last Thursday.
Citing sources close to the operation, the Spanish newspaper…
PE firms Carlyle and CVC Capital Partners, as well as the cable operator Ono, reportedly submitted bids to acquire a stake in Spanish cableco Telecable before the deadline last Thursday.
Citing sources close to the operation, the Spanish newspaper Expansion reported that London-based CVC and Ono had made bids. It also reported that US-based Carlyle had made a bid, although it also noted some doubts over whether this bid had been made.
Spanish banking group Liberbank currently holds a 92% stake in Telecable. TelecomFinance understands that Liberbank is looking to sell part of its stake, while still remaining a shareholder in Telecable.
Societe Generale has been advising on the sale.
According to Expansion, Liberbank has an agreement with the Banco de Espana that requires it to have the divestiture resolved, with all the agreements completed, before 25 October.
Several other bidders had reportedly shown interest in the Telecable stake, including another Spanish cable operator (Euskatel) and the US cableco Liberty Media.
Carlyle, CVC Capital Partners and Ono all declined to comment.
