Cableco Euskaltel, based in Spain’s autonomous Basque region, is reportedly set to acquire government backbone network infrastructure for €68m.
The deal, which will see hundreds of kilometers of the government controlled network being transferrred…
Cableco Euskaltel, based in Spain’s autonomous Basque region, is reportedly set to acquire government backbone network infrastructure for €68m.
The deal, which will see hundreds of kilometers of the government controlled network being transferrred to Euskatel, is awaiting approval of the Basque parliament, Spanish newspaper Cinco Dias reported.
Euskaltel’s largest shareholder, Basque banking group Kutxabank, is currently negotiating the sale of its stake in Euskaltel with three private equity firms – CVC, Apax and Trilantic – said to be interested.
Euskaltel provides broadband, fixed-line telephone and digital TV services in Basque, as well as mobile services through an MVNO. The company reported net profit of €38.4 million and EBITDA of €333.3 million in 2011.
Euskaltel was not immediately available for comment.
