Liberbank, the majority shareholder in Asturias-based cableco Telecable, is considering the option of selling part of its 92% stake in the company.
Liberbank is a bank that has been created through the integration of three other Spanish banking…
Liberbank, the majority shareholder in Asturias-based cableco Telecable, is considering the option of selling part of its 92% stake in the company.
Liberbank is a bank that has been created through the integration of three other Spanish banking companies: Cajastur, Caja de Extremadura and Caja Cantabria.
Liberbank now holds the 92% stake, once held by Cajastur.
TelecomFinance understands that Liberbank studies the option of selling part of its 92% stake in Telecable in such a way as to bring in a strategic partner that would favour the consolidation, growth and expansion of the company.
Liberbank wants to continue as a relevant shareholder in Telecable.
This follows speculation in the Spanish media about a possible sale.
The Spanish newspaper Expansion reported in its Sunday edition that Cajastur had received half a dozen offers for its stake, which the newspaper valued at between E350m and E420m.
Expansion claimed that the prime candidate for the stake is the British PE firm CVC Capital Partners. CVC increased its stake in the Galician cableco R Cable to 70% in May 2010.
Telecable won one block of spectrum in the recent Spanish auction, which was concluded at the end of July.
