Kabel Deutschland (KDG) is considering a takeover of its smaller rival Tele Columbus, according to German media reports.
The Frankfurter Allgemeine Zeitung said Germany’s largest cable operator had gone so far as to study the books of the 2.1 million-subscriber network, but quoted CEO Adrian von Hammerstein as saying he did not want to be drawn into speculation.
The fourth largest cable operator in Germany, Tele Columbus has been through a series of financial restructurings. In January 2010 an additional €35 million of fresh capital was invested in the group after a restructuring agreement that saw its debts reduced by €400 million.
At that time the Nicholas & Co. LLP consortium that had previously controlled the operator, handed over ownership to Tele Columbus Management S.àr.l., whose creditors pledged to pump over €200 million into the company during the next three years.
Previous attempts by Kabel Deutschland to take control of Tele Columbus have previously been scuppered by the competition authorities.