Pinebridge refuses too-low offers for AKTA

8 Jan 2015

Investment fund PineBridge, owner of Romanian cableco Digital Cable Systems (AKTA), recently refused takeover offers of around EUR100 million (USD118.5 million) for the asset from Vodafone Group and UPC because it expected to reach a price closer to EUR200 million, reports quoting sources familiar with the negotiations. The negotiations were said to have lasted six months, while a return to the table is not ruled out if the prospective buyers raise their offers, sources claim.

Romania, Digital Cable Systems (AKTA / Dial), UPC Romania (now part of Vodafone), Vodafone Romania