0
Internet

CVC exercises option to raise R stake to 70 percent

Monday 15 November 2010 | 09:17 CET | News
UK private equity firm CVC Capital Partners has increased its stake in Spanish regional cable operator R to 70 percent. When CVC bought a 35 percent stake in the Galician operator in April, it took an option to buy another 35 percent within three years. The move injects cash into the cable operator and strengthens its financial structure, as well as giving it the means to expand into other markets. Caixanova bank maintains its position as a partner of reference with a 30 percent stake, the same holding it had before Union Fenosa withdrew from R in 2008 when it merged with Gas Natural. CVC and Caixanova confirmed R's management continuity with Honrato Lopez Isla as chairman, Julio Fernandez Gayoso as vice chairman and Arturo Dopico as CEO. They also pledged to guarantee the Galician nature of the operator and to keep its current headquarters location. Local press reports value the transaction at EUR 157.4 million.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Fixed / Internet
Companies: R
Countries: Spain
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.






Digital grows to more than 88% of TV market
Netherlands  |  2015 Q3

Calendar   /   Industry Events

15 Feb Telecom Italia Q4 2015
15 Feb Orange Poland Q4 2015
15 Feb Cisco Live Berlin 2016
16 Feb Harmonic Q4 2015
16 Feb Liberty Global Q4 2015
16 Feb Rackspace Q4 2015
16 Feb StarHub Q4 2015
16 Feb Ceragon Networks Q4 2015
16 Feb Orange Q4 2015
16 Feb Sonus Networks Q4 2015
16 Feb Container World
17 Feb Eutelsat fiscal H1
17 Feb Radcom Q4 2015
17 Feb Vimpelcom Q4 2015
17 Feb EarthLink Q4 2015
17 Feb Gilat Satellite Networks Q4 2015
17 Feb Nvidia fiscal Q4
17 Feb Net Insight Q4 2015
17 Feb Doro Q4 2015
17 Feb iPass Q4 2015
17 Feb Analog Devices fiscal Q1
17 Feb Brocade fiscal Q1
17 Feb T-Mobile US Q4 2015
17 Feb Arris Q4 2015
18 Feb Inteliquent Q4 2015
18 Feb Spark New Zealand fiscal Q2
18 Feb Comptel Q4 2015
18 Feb Dish Network Q4 2015
18 Feb Novatel Wireless Q4 2015
18 Feb Equinix Q4 2015
::: More Calendar Items