Jeffries, the bank that advises the owners of Primacom, has sent out a sales prospectus for the German cableco, according to two unnamed people familiar with the matter, quoted in a Reuters report.
The article states that documents were sent to a small…
Jeffries, the bank that advises the owners of Primacom, has sent out a sales prospectus for the German cableco, according to two unnamed people familiar with the matter, quoted in a Reuters report.
The article states that documents were sent to a small number of potential buyers only.
Last month, a banking source told TelecomFinance that Primacom was expected to be put up for sale by its owners, but only once it was clear how the sale of Tele Columbus would play out.
On Monday KDG announced it has agreed to buy Tele Columbus for €618m. The deal is pending regulatory approval.
One of the people quoted in the Reuters article said that KDG, Deutsche Telekom and Unitymedia – the same companies that had shown interest in Tele Columbus – are expected to also look at Primacom.
The current owners of Primacom, among them Alcentra Group, Tennenbaum Capital, Avenue Capital and ING Groep, are reportedly expecting bids of not less than €400m.
