Versatel to buy AKF; Apax in no rush to sell; EWE to get Martens

19 Jun 2008

The supervisory board of Versatel has agreed terms to buy cableco AKF Telekabel TV und Datannetze (AKF) for EUR30 million (USD46.5 million) including debt. The operator is based in Frankfurt and offers a full range of TV, internet and telephony services over a ‘Level 4’ cable network that passes 76,000 households. The deal remains subject to the approval of the German cartel office.

Meanwhile, in a separate but related story, Apax Partners revealed yesterday that it in no hurry to divest its 44% stake in Versatel, Reuters reports. Speaking at an industry event in Dusseldorf, Torsten Krumm of Apax said: ‘We have not set ourselves a time limit.’ An Italian newspaper recently reported that the private equity firm had offered the stake to Telecom Italia.

Reflecting the growing consolidation of the German broadband market, EWE Tel has acquired Hamburg cableco Martens. The latter offers triple-play services to approximately 130,000 homes, and resells the Kabel Deutschland digital TV product in some parts of its network in Hamburg.

Germany, 1&1 Versatel