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February 23, 2010

Kabel Deutschland announces IPO

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by Rapid TV News

Website: Rapid TV News

Germany’s largest cable operator Kabel Deutschland (KDG) has decided to go ahead with an IPO. The company to be listed on the Frankfurt stock exchange will be parent group Kabel Deutschland Holding GmbH, which will first be converted into a stock corporation, KDG announced in Munich.

“The shareholders will probably only place a minority stake,” a spokeswoman said, but she declined to give further details and a timetable. According to industry sources, the IPO is planned to take place before Easter, comprising around a quarter of KDG’s shares which could generate a cash flow of around €1bn.

Financial investor Providence, which owns around 88% of KDG, initially evaluated a sale of the company. KDG serves around 9 million households in 13 federal states.

Story link: Kabel Deutschland announces IPO

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