German cable operator Tele Columbus said it is considering the option of taking on board a new investor as part of a restructuring of the group. At this point, the search for an investor remains at a preliminary stage and a final decision has not been made, the company said in statement.
Tele Columbus said it evaluates options in the context of the fibre network expansion in Germany. It will only pursue a transaction that is strategically convincing and adds value for its shareholders. The results, timing and terms of a potential transaction are not yet defined.
The statement issued in response to media speculation led to an over 10 percent increase in Tele Columbus' share price. Germany's third-largest cable operator has been under pressure after several profit warnings in the past year, with the share price falling from EUR 8 to less than EUR 2 in the past 12 months.
