TeleGeography Logo

KDG unveils plans for EUR700 million IPO

9 Mar 2010

German cableco Kabel Deutschland (KDG) has published a prospectus for its EUR700 million (USD956 million) initial public offering (IPO), Bloomberg reports. Existing shareholders, including private equity firm Providence, aim to raise the sum by offering up to 45 million secondary shares, while a further 6.75 million shares would be offered in a potential overallotment offering, also known as a greenshoe option. The IPO price range will be announced between 10 March and 12 March, with an offering period starting between 11 March to 15 March and ending on 19 March; trading in the shares is expected to start on 22 March. Last month, CommsUpdate reported that Providence had dropped plans for an outright sale of KDG in favour of an IPO, after offers for the company fell short of expectations. BC Partners and CVC Capital Partners made a joint bid for KDG, while Carlyle Group, Advent International, Hellman & Friedman and Bain Capital also submitted offers thought to be in the region of EUR5 billion and EUR5.5 billion. KDG is 88% owned by Providence Equity, with the remainder held by Ontario Teachers’ Pension Plan (8%) and company management (4%).

Germany, Kabel Deutschland

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.


TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.