Basque operator Euskaltel has taken steps to study a possible IPO to “consolidate its future and remain rooted in Euskadi”.
The final decision on the possible IPO will be taken no earlier than June, the company said to local press, but Euskaltel has been in contact with several candidates to advise the company.
The objective of Euskaltel in analysing the possibility of going public is to “strengthen its position as a leading player in the telecommunications sector, facilitate future growth and development, provide it with greater visibility in the markets and have access to additional funding to consider organic and inorganic projects for growth. ”
It also intends to maintain its local identity and establishment of the company in Euskadi (the Basque country).
In December 2012, International Cable, whose shareholders are Trilantic Capital Partners and Investindustrial Advisors, joined the shareholders (Kutxabank, Iberdrola) of Euskaltel.
Euskaltel has a cable network through which it delivers triple play services, broadband, telephony and TV.
