Regional cable operator Euskatel is in talks to acquire a stake in Asturias-based cableco Telecable from the Liberbank banking group, local media reports claimed.
Spanish newspaper El Comercio reported that Euskatel has expressed interest in the stake….
Regional cable operator Euskatel is in talks to acquire a stake in Asturias-based cableco Telecable from the Liberbank banking group, local media reports claimed.
Spanish newspaper El Comercio reported that Euskatel has expressed interest in the stake. It also cited sources saying that three Basque savings banks – BBK, Kutka and Vital – were taking part in the negotiations.
Euskatel was not immediately available for comment.
Both Euskatel and Telecable are regional companies.
Euskatel provides fixed, mobile, internet and TV services in the Basque country. It has shown willingness to move into new areas, particularly by launching Viva Mobile in the Valencia area in 2008.
Telecable also provides fixed, mobile, internet and TV services. It operates in the northern region of Asturias.
TelecomFinance understands that Liberbank is looking to sell part of its stake in Telecable in order to bring in a strategic partner that would favour the consolidation, expansion and growth of the company.
A source close to the operation confirmed that Liberbank intends to remain a “relevant shareholder” in Telecable after the sale process has been completed.
Cable operator Ono is interested in participating in the process to acquire the Telecable stake, according to an Ono source. Media reports also suggest that London-based PE firm CVC Capital Partners has shown interest.
