Tele Columbus completes restructure
January 19, 2011
The Tele Columbus Group, the leading German cable network operators, has successfully completed the financial restructuring process initiated in 2010. With expanded capital resources, the business is now better positioned in the competitive cable and telecommunication market.
During the course of the restructuring agreement with lenders, debts were reduced by over €400 million. At the same time, the company gained circa €35 million of new equity capital. With the completion of the financial restructuring, the shares of the Tele Columbus Group have been acquired by Tele Columbus Management, which is managed by the capital providers. The company says it will continue its growth strategy and during the next three years, nearly €200 million will be invested to develop network infrastructures.