Recently-listed Swedish cableco Com Hem is reportedly considering a bid for Norwegian peer Get as it too eyes an IPO this year.
Com Hem is considering making an offer in the near future, according to reports citing Swedish business daily Dagens…
Recently-listed Swedish cableco Com Hem is reportedly considering a bid for Norwegian peer Get as it too eyes an IPO this year.
Com Hem is considering making an offer in the near future, according to reports citing Swedish business daily Dagens Industri, which referred to undisclosed sources.
However, other reports have pointed to Get being more likely to be floated because of the stock prices that cablecos are currently enjoying in the region.
Com Hem was unable to comment on the rumours.
The Swedish group’s shares priced in June at the higher end of their range at Skr58 (US$8.74) apiece, with the initial offering being oversubscribed several times. Investors later triggered its over-allotment option in full, meaning the cableco raised about US$940m from its listing overall.
Get was reported in May to have mandated Goldman Sachs and Deutsche Bank as global coordinators, and UBS and Barclays as bookrunners, for an IPO after the European summer that could value it at Nkr15bn (US$2.5bn), or 11 times its expected 2015 EBITDA.
Get and its owners, the private equity arm of Goldman Sachs and investment firm Quadrangle, decline to comment on the speculation.
Goldman Sachs Capital Partners and Quadrangle bought Get in 2007 for US$1.1bn from private equity firm Candover, which acquired the group just two years earlier from pan-European cableco UPC.
