KDG IPO this month

German cable operator Kabel Deutschland has set March 19th to close an Initial Public Offering looking to raise over E700 million in return for floating 25-30 per cent. The price range for the IPO is expected to be announced today with the offer open from the end of this week.

KDG has held talks with possible buyers – mainly other private equity houses – and was said to have been offered E5 – 5.5 billion including debt. Providence Equity Partners currently own 88 per cent of the company.

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