Spain’s ONO set to buy Telecable

Spain’s largest cable company ONO looks likely to acquire regional cable operator Telecable that operates in the Spanish regions of Asturias and Extremadura with around 160,000 subscribers.

The operation, led by the French bank Societe General, is to be concluded before the end of this month. In the race to acquire the company there is also about a dozen investment funds and business groups interested in Telecable, now controlled with a 91.8 per cent by the savings bank Cajastur.

Telecable’s value is estimated at between €350 and 420 million. Last July, Telecable won a licence in the auction of wireless spectrum to operate a mobile LTE network in Asturias in the 2.6 GHz band for an amount of €708,317. The operator plans to invest €35 million over the next decade and install between 100 and 200 base stations.

With the move, ONO would achieve to break into two regions where the company has not any presence at the present time. CVC Capital is among the other bidders.

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