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Private equity to bid for Euskaltel
09 July 2012
Apax, Trilantic and CVC expected to bid for €800m stake in Basque regional operator Euskaltel
Private equity firms Apax Partners, Trilantic Capital Partners and CVC Capital Partners are considering buying an €800 million stake in Euskaltel, reports Dow Jones citing sources close to the matter. Euskaltel is a provider of broadband internet, television, fixed line and mobile services in the Basque country, an autonomous region of northern Spain.
Earlier in 2012, local lender Kutxabank appointed Citibank to divest 49% of Euskaltel. According to the source, offers for the asset are expected to come in the middle of July.
Euskaltel reported net profit of €38.4 million and EBITDA of €333.3 million in 2011.
Carlyle bought 85% of Spanish cable operator TeleCable de Asturias earlier in 2012 but is not expected to bid for Euskatel. CVC already owns R, a small cable firm based in Galicia, north-western Spain. GTB
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