Kabel Deutschland confirms IPO plans
Kabel Deutschland, Germany’s biggest cable network provider, has confirmed plans to float its shares. The company didn’t provide details on the stake it intends to float, on the size of the initial public offering nor on a time frame for the listing.
According to reports, Kabel Deutschland has decided to proceed with an initial public offering and has dropped plans to sell the company in a private deal, allowing its private-equity owners, among them Providence Equity, which has an 88 per cent interest in Kabel Deutschland, to keep a stake in the company. It has recently been approached by private equity groups for a sale.