DT down in the mouth on cable assets sale

8 Jan 2003

Deutsche Telekom’s (DT’s) hopes of raising up to EUR2.3 billion (USD2.4 billion) from the sale of its cable television business look increasingly likely to be thwarted following the news that a consortium comprising Apax Partners, Providence Equity Partners and Goldman Sachs Private Equity is set to table a lower EUR1.6 billion-EUR1.9 billion bid for the assets. The sale of the cable business, which includes six regional cable operators, forms part of DT’s ongoing debt reduction plan and was hoped to have been one of the largest disposals undertaken by the German PTO this year.