CVC acquires 35% stake in Spanish cable operator R

News Broadband Spain 14 APR 2010
CVC acquires 35% stake in Spanish cable operator R
Private equity firm CVC Capital Partners has acquired a 35 percent stake in Spanish regional cable operator R, which operates in the Autonomous Community of Galicia. R is currently valued at over EUR 675 million. CVC plans to increase its participation in R in the near future. Following the transaction, the main shareholder in the Galician operator remains Spanish financial institution Caixanova, which currently owns a 65 percent stake in R. With over 140,000 km of fibre-optic cable deployed across 74 communities of Galicia, R provides a fixed and mobile telephony, internet, pay-TV and advanced telecommunications services for business customers. The operator currently serves around 250,000 customers in the region. Also as part of the agreement, CVC has committed to invest over EUR 1.5 billion in R. Over the next five years, CVC will invest around EUR 330 million to accelerate R's fibre-optic network deployment and expansion.

Categories:

Fixed

Companies:

R

Countries:

Spain

Tags:

Voice services, Shareholders & subsidiaries, Internet Access, Enterprise, M&A buyouts & divestments

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