Germany’s Tele Columbus refocusses on IPO
German cable network operator Tele Columbus is moving ahead with its delayed initial public offering (IPO).
In September 2014, Tele Columbus revealed plans to launch an IPO by the end of the year, and having not met this deadline the operator is now aiming to enter the stock market in the first half of 2015.
The company will issue new shares and hopes to raise approximately €300 million from the IPO in a bid to cut debt and increase its financial flexibility.
Goldman Sachs and JP Morgan are thought to be joint global co-ordinators behind the offering, with Rothschild as financial advisor to the company.
Owned by a number of hedge and credit funds, Tele Columbus is Germany’s third-largest cable operator, behind Liberty Global and Kabel Deutschland.
In February 2013, Kabel Deutschland dropped a €618 million bid for Tele Columbus.