German cableco PrimaCom has announced a restructuring, which will see shares in PrimaCom Management GmbH transferred to Luxembourg group Medfort. The news, comes from a press release in German cited by Broadband TV News.
The new holding vehicle, which…
German cableco PrimaCom has announced a restructuring, which will see shares in PrimaCom Management GmbH transferred to Luxembourg group Medfort. The news, comes from a press release in German cited by Broadband TV News.
The new holding vehicle, which acquired the asset for an undisclosed sum, comprises private investors with no links to PrimaCom’s creditors or former shareholders.
The news outlet cited Michael Dorn, PrimaCom’s COO and chief restructuring officer, as saying that the move would both secure PrimaCom’s survival and support investment in network expansion and new product development.
