Spain’s Euskaltel considers IPO
23 February 2015 |
Spanish cable firm Euskaltel has allegedly hired Rothschild as advisor for a potential listing on the country’s stock exchange.
According to local reports, the cable company is considering launching on the stock exchange before June, in a bid to consolidate its position in the market before expected changes in the European telecoms sector.
Euskaltel operates solely in the Basque region of northern Spain, where it is the leading player, and the rumoured IPO follows an increase of capital it started in December 2012 when it sold shares to International Cable – owned by Trilantic Capital Partners and Investindustrial Advisors.
International Cable owns 48.1% of Euskatel, and reports claim that it would list at least 25% of the share capital of the company. Regional lender Kutxabank and Spanish utility firm Iberdrola respectively own 49.9% and 2% of the company.
Preliminary estimates value the company at approximately €400-€500 million, according to local sources.
In December last year, Euskaltel signed a 10-year managed services deal with China’s ZTE.