Report: Tele Columbus sale nears

1 Sep 2009

The sale process of struggling German cable operator Tele Columbus could begin in the next couple of weeks, writes Reuters citing sources close to the matter. The report adds that the deal could be valued at EUR400 million-EUR500 million (USD574 million-USD718 million). Alongside sister company Primacom, Tele Columbus, which is reportedly in debt to the tune of almost EUR950 million, is owned by Luxemburg-based Escaline via the holding company Orion Cable. According to CommsUpdate, a number of German telecoms operators have already expressed an interest in acquiring Orion Cable, including Munich-based cableco Kabel Deutschland (KDG), Cologne-based rival Unitymedia and mobile operator Vodafone Germany, which also operates its own fixed line network for the provision of telephony and broadband internet services, but has not yet ventured into the cable market.

Germany, PrimaCom, Tele Columbus Group (PYUR)