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Broadband

Spain's Euskaltel completes EUR 700 mln Telecable buy

Tuesday 16 May 2017 | 10:25 CET | News
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Basque cable operator Euskaltel has announced the acquisition of regional Spanish broadband operator Telecable Asturias for EUR 686 million, including EUR 245 million of debt, plus an additional contingent payment of up to EUR 15 million depending on future performance. In a statement to Spanish market regulator CNMV, Euskaltel said it will 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. Telecable is owned by UK-based telecom investment vehicle Zegona, set up by former Virgin Media finance

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