Versatel plans IPO

26 Mar 2007

German wireline operator Versatel is planning an initial public offering (IPO) on the Frankfurt Stock Exchange before the end of June 2007, writes Telecompaper. The firm is currently 100%-owned by private equity firm Apax Partners. CEO of Versatel Peer Knauer said that the flotation will provide the financial flexibility required to allow it continue to increase its presence in Germany’s broadband market. The firm intends to become the leading alternative broadband operator by expanding its ADSL2+ infrastructure to unserved regions. Versatel’s revenue for the financial year 2006 was EUR666.2 million (USD885.3 million) compared to EUR546.9 million in 2005, while EBITDA was EUR211.8 million last year, up 49% from 2005.

Germany, 1&1 Versatel