German cablenet Tele Columbus has attracted the attentions of a new financial investor. Quoting people familiar with the matter, Reuters said the investor was known to the cable industry, but was unable to name the party. BC Partners, CVC and EQT, which all follow the European cable sector, are not thought to be interested.
The fourth largest cable operator in Germany, Tele Columbus has been through a series of financial restructurings. Last January an additional €35 million of fresh capital was invested in the group after a restructuring agreement that saw its debts reduced by €400 million.
In May former UPC President Gene Musselman took over as chairman of the board.
Attempts by Kabel Deutschland, the country’s largest cable operator, to take control of Tele Columbus have previously been scuppered by the competition authorities. With Providence no longer involved in KDG there may be an opportunity for either party.
