Austria’s Bewag selling B.net cable assets

Austrian utility group Burgenlandische Elektrizitatswirtschafts (Bewag) has announced that it will sell its cable broadband network operating division B.net, which has operations in Croatia, Hungary and Austria, reports Croatia Today. Bewag plans to offload 75% of shares in B.net, with the remainder to be sold within three years, as it looking to raise around EUR150 million (USD220 million) for energy sector projects. Bewag President Hans Lukits confirmed that shares in B.net Croatia would be sold through an IPO. According to TeleGeography’s GlobalComms database B.net Croatia was formed in April 2007 when Bewag acquired Croatia’s largest cable operators DCM and Adriatic Kabel for EUR55 million. B.net Croatia has a total of around 100,000 TV and internet customers in Zagreb, Split, Osijek, Rijeka, Zadar, Velika Gorica and Solin.