Primacom is said to be the next German cableco up for sale, according to a banking source and a media report that referred to unnamed people familiar with the process. Jeffries is advising on the situation, the banking source said.
A Bloomberg report…
Primacom is said to be the next German cableco up for sale, according to a banking source and a media report that referred to unnamed people familiar with the process. Jeffries is advising on the situation, the banking source said.
A Bloomberg report published today stated that an information memorandum could go out to interested parties next month.
Speaking to TelecomFinance last week, the banking source suggested that the owners of Primacom are more likely to wait and see how the sale of Tele Columbus, which is another German cableco that is currently being sold by its owners, is playing out.
A spokesperson for Primacom said in an emailed statement that the company had no knowledge of any sale plan. He refused to comment any further.
Bloomberg wrote, with reference to one of the sources, that some of the potential buyers, which included private equity firms, might attempt to buy Tele Columbus as well as Primacom and then merge the businesses.
KDG, Deutsche Telekom and Liberty Global’s German subsidiary Unitymedia are said to be interested in Tele Columbus.
With reference to an ING analyst, the report said Primacom could fetch around €400m.
Late last year, Unitymedia acquired Kabel BW, another player in the market, after a months-long antitrust investigation.
Primacom was taken over by lenders in 2011 following insolvency of its parent company in 2010.
