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General

Euskaltel's takeover of R rises to EUR 1.19 bln

Tuesday 6 October 2015 | 10:11 CET | News
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Spanish regional cable operator Euskaltel, operating in the Basque Country, has announced that it has reached an agreement with shareholders of Galician cable provider R to acquire the operator for EUR 1.19 billion. In a statement to Spanish market watchdog CNMV outlining the terms of the deal, Euskaltel said the final price was higher than the initial estimation of EUR 1.155 billion due to the inclusion of EUR 300 million in debt and the improved operational prospects of R. The company added that it would refinance R's debt and would pay in cash via a EUR 600 million capital hike. 

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Categories: General
Companies: Euskaltel / R
Countries: Spain
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