Versatel sells cable business to Chequers Capital

1 Jul 2010

German fixed line operator Versatel has announced the sale of its cable network business Versatel Kabel to Paris-based financial investor Chequers Capital for EUR66 million (USD80.8 million). The move signals the company’s complete withdrawal from the end-customer cable market, and will enable it to focus on its B2B operations in order to make better use of its own broadband network. The sale included all of Versatel Kabel’s subsidiaries, including Versatel Media, Versatel Telekabel and Deutsche Netzmarketing. At the same time, both sides agreed on a wholesale contract for the provision of network level 3 services based on Versatel’s network infrastructure with a turnover of around EUR9 million. Versatel plans to continue being a partner of cable operators by using its infrastructure to provide network level 3 backbone services for internet and telephony. The deal is subject to approval from the Federal Cartel Office and other regulatory authorities.

Germany, 1&1 Versatel