Tele Columbus plans IPO by year-end

News Broadband Germany 30 SEP 2014
Tele Columbus plans IPO by year-end
Tele Columbus, Germany's third-largest cable operator, announced plans for an initial public offering by year-end. It plans to raise at least EUR 300 million to help reduce debt and provide cash for expansion. The IPO will be accompanied by a debt refinancing aimed at reducing interest expense and lowering net debt to around 3.5 times adjusted EBITDA. The offering on the Frankfurt Stock Exchange will include new shares and shares from existing shareholders. 

Active in east Germany, Tele Columbus has around 1.7 million households connected to its network. Since a proposed merger with Kabel Deutschland was vetoed by regulators last year, Tele Columbus has been expanding through small acquisitions. In the first half of this year, it grew cable revenues 3.6 percent to EUR 107 million.   

Categories:

Fixed

Companies:

Tele Columbus

Countries:

Germany

Tags:

Cable - Docsis, Internet Access, Financial funding

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