The owners of German cableco Tele Columbus have launched a new sales process following the collapse of a takeover by Kabel Deutschland (KDG), according to sources.
One of the sources said first round bids are due Monday next week (22 April), while the…
The owners of German cableco Tele Columbus have launched a new sales process following the collapse of a takeover by Kabel Deutschland (KDG), according to sources.
One of the sources said first round bids are due Monday next week (22 April), while the second person confirmed only that the first round is currently under way.
Rothschild, which advised on the earlier sale attempt to KDG, is again managing the process.
According to the first source, the focus of the process is now on identifying a financial buyer given the previous attempt to sell the cableco to a strategic player met with opposition from the German Federal Cartel Office (FCO).
However, even private equity firms with other cable assets in Germany might face difficulties participating in the process, this source said.
But the second person noted that the cartel authority’s prohibition of a deal with KDG did not mean that a strategic transaction was ruled out as such on antitrust grounds. The person specifically mentioned that the ruling did have little implications for large telecoms operators which might be interested in the asset.
Deutsche Telekom participated in last year’s Tele Columbus sale process, but was beaten by KDG’s €618m offer.
A spokesperson for Tele Columbus refused to comment
