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Broadband

Spain's CNMC green lights Euskaltel acquisition of Telecable

Tuesday 4 July 2017 | 08:33 CET | News
Spain's competition and communications regulator CNMC has approved the acquisition of regional broadband operator Telecable Asturias by Basque cable operator Euskaltel for EUR 686 million, including around EUR 245 million of net debt. Euskaltel said the regulator imposed no conditions on the transaction and it will therefore pay EUR 186 million in cash plus EUR 255 million in new shares via a capital increase of 26.8 million ordinary shares, issued at EUR 9.5 per share. The deal announced in May means that Telecable's current owner, UK-based telecom investment vehicle Zegona, becomes the

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Categories: Fixed
Companies: CNMC / Euskaltel / R / Telecable
Countries: Spain
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