Unity Media and EWT have agreed to terminate Unity’s option to purchase part of EWT’s business in Hesse and North Rhine-Westphalia. The option was granted in November to Unity’s subsidiaries ish and isey. The decision not to acquire the businesses followed a period of due diligence.
Although Unity and EWT have agreed to potentially return to the negotiating table there could already be another buyer waiting in the wings. Earlier this week Orion Cable announced it had put in place a €365 million debt facility part of which would be used for new acquisitions.