German cable company PrimaCom, which was taken over by its lenders in 2011 after its parent’s insolvency, is being put up for sale as German regulators pave the way for consolidation among smaller network operators, reports Bloomberg.
Investment bank Jefferies Group Inc has been hired to prepare the search for a buyer, said Bloomberg sources. Talks are private at this stage, and initial information may be sent to potential bidders in May.
Leipzig-based PrimaCom offers triple play services to more than 1 million households, mostly in eastern Germany. Tele Columbus – Germany’s third largest cable provider with 3.7 million connected households – is also being sold and has attracted interest from Kabel Deutschland, Deutsche Telekom and Liberty Global-owned Unitymedia.
Liberty Global in December 2011 won German antitrust approval to acquire the cable operator Kabel Baden-Wuerttemberg, to add to its 2009 acquisition of Unitymedia