Swedish private equity group EQT has hired two banks to prepare an initial public offering (IPO) or sale of German cable operator Kabel BW, Bloomberg reports, citing four people familiar with the process. According to the unidentified sources, JPMorgan Chase and Deutsche Bank have been hired to advise EQT on the divestment of Kabel BW, which could raise around EUR2 billion (USD2.65 billion) next year. However, no decision has been made whether to opt for an IPO or sell the company. According to TeleGeography’s GlobalComms Database, EQT has been the sole shareholder in Heidelberg-based Kabel BW since it bought the cableco from US investment group Blackstone in April 2006 for around EUR1.3 billion. The operator had a cable subscriber base of around 2.3 million at 30 September 2010, including around 624,000 broadband and telephony customers.