The majority owner of German cable operator Kabel Deutschland (KDG), Providence Equity, plans to raise at least EUR1 billion (USD1.41 billion) in an initial public offering (IPO) for the company, to be launched as early as the second quarter of this year, Reuters reports citing people familiar with the matter. The sources added that KDG’s owners are selecting bookrunners for the potential listing as they prefer the public market to a sale to a rival company. As reported by CommsUpdate in November 2009, KDG first hinted at a possible listing late last year, with the company’s finance chief Paul Thomason stating: ‘It is no secret. We are rumoured to be looking at a potential IPO in 2010. I do not know whether that will or will not happen.’ KDG is 88% owned by Providence Equity, with the remainder held by Ontario Teachers’ Pension Plan (8%), and company management (4%). Also in November 2009, rival cableco Unitymedia announced it was planning an IPO for December, but instead was quickly snapped up by Liberty Global Inc for USD3 billion in cash plus USD2.2 billion in assumed debt.