The second consolidation move in the Spanish cable market is under way. Following the recent sale of Telecable, in the north of Spain to The Carlyle Group, now Euskatel, the second largest cable company behind ONO, is also moving with the consolidation tide.
Savings banks BBK and Kutxa, owners of more than 60 per cent of Euskaltel, are finalising the sale to two risk capital funds; CVC, owner of cable operator R, and Carlyle.
Euskaltel currently holds a cable market share of 13 per cent with some 153,000 TV subscribers, compared with market leader ONO, which boasts two million subs, of which 947,000 are for TV.
Meanwhile, ONO has revealed it made a net profit of €44.93 million, up 4.4 per cent against the same period last year, with an ARPU of €51.70 against €50.80 in September 2010.