The sale of a tower company is expected to be launch in the very near future, sources have told TelecomFinance.
Private equity firm Mid Europa Partners has hired Goldman Sachs to sell its Czech tower company Ceske Radiokomunicaje (CRa).
A source said…
The sale of a tower company is expected to be launch in the very near future, sources have told TelecomFinance.
Private equity firm Mid Europa Partners has hired Goldman Sachs to sell its Czech tower company Ceske Radiokomunicaje (CRa).
A source said that the transaction was in the marketing phase, with ?teaser? documents already out.
Two sources valued CRa at about E600m.
One of the sources said the likes of France?s TDF or Telenor Broadcast may be interested in the transaction, but there is some consensus that private equity firms are the most likely candidates.
A consortium of Mid Europa, Lehman Brothers and UAE-based Al-Bateen Investment bought CRa and a 39.23% stake in T-Mobile Czech Republic for a total of E1.2bn in November 2006. ING provided a E750m senior and mezzanine debt package for the deal. Mid Europa acquired Lehman Brothers? stake in November 2008 and currently owns 75% of the tower company.
CRa owns over 600 towers and has revenues of about CZK2bn (E81m).
According to Mid Europa?s website, CRa has around 97% of the Czech analogue TV and radio broadcasting market. It launched digital broadcasting services in 2006 and has four digital multiplexes.
