Kabel Deutschland KDG has increased its share in cable operator Primacom AG to 18.6%, the company announced on Friday. The cable operator bought 2.92 million shares from private investor Wolfgang Preuss at €12 each making the deal worth €35 million and putting the total value of Primacom at over €245 million. KDG already owned a small interest in the operator.
The battle for Primacom has now begun. The acquisition gives KDG an advantage in taking control in Primacom. Orion Cable is the other interested party in taking full control of Primacom; they already own around 26 % of the shares. Orion also owns the cable operators TeleColumbus and EWT. Primacom serves over 920,000 homes in various parts of the country.