Three private equity firms are reportedly set to make binding offers for a stake in Spanish cableco Euskaltel before a mid-July deadline.
CVC, Apax and Trilantic are lining up for part of Basque banking group Kutxabank’s 49% stake, reported Dow Jones…
Three private equity firms are reportedly set to make binding offers for a stake in Spanish cableco Euskaltel before a mid-July deadline.
CVC, Apax and Trilantic are lining up for part of Basque banking group Kutxabank’s 49% stake, reported Dow Jones citing sources.
Carlyle, the PE firm that acquired a 85% stake in Spanish cableco Telecable earlier this year, had looked at Euskaltel but decided against a bid, added the report.
Neither party was able to comment on the speculation.
Earlier this year, Spanish newspaper Expansion cited sources suggesting Kutxabank’s preferred option would be to integrate Euskaltel with one of two other Spanish regional cable operators: Carlyle’s Telecable or R, which is majority owned by CVC. Expansion also reported that Kutxabank has valued Euskaltel at between €800m and €1bn.
Citibank is reportedly advising Kutxabank.
Euskaltel provides broadband, fixed-line telephone and digital TV services in Basque, as well as mobile services through an MVNO. R is based in Galicia, and Telecable operates in Asturias.
