Bankers are speculating that a cable roll-up in Spain could be under discussion.
Galicia-based R Cable could become a vehicle for consolidating northern regional cablecos, including Euskatel in the Basque Country and TeleCable in Asturias, they say.
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Bankers are speculating that a cable roll-up in Spain could be under discussion.
Galicia-based R Cable could become a vehicle for consolidating northern regional cablecos, including Euskatel in the Basque Country and TeleCable in Asturias, they say.
Back in May 2010, CVC doubled its 35% stake in R to reach 70%, and reportedly plans to increase its shareholding in the near future. Local bank Caixanova owns the remainder of R, which was valued at the time at more than E675m.
Reports suggest CVC has already committed more than E1.5bn in investment in the group, and plans to inject a further E330m over the next five years to accelerate its fibre-optic network deployment.
CVC declined comment.
Three lenders for R
What has been confirmed is that R Cable has secured E550m in loans from BNP Paribas, Societe Generale and Deutsche Bank.
The financing is split into E400m, E100m and E50m from the three banks, respectively.
R plans to use the proceeds to expand its network outside its home region.
The company generated £185.44m in revenues and £82.36m in EBITDA for 2009, reports add.
It currently employs 190 staff, and has a turnover of E209m, according to CVC’s website.
