The investment fund Pinebridge is preparing to sell its majority stake in Akta, Romania’s third largest cable operator.
Quoting market sources, ZF reports that the transaction could be worth over €100 million.
It adds that this will be the second time in three years that Pinebridge has sought a buyer for Akta.
In 2014, it commissioned Ernst & Young to find one, aiming to secure over €200 million in any deal. However, the price was considered too high by interested parties, which are understood to have included UPC and Vodafone.
Indeed, Pinebridge was offered around €100 million, the current asking price.
Akta is the third largest cable operator in Romania after RCS&RDS and UPC and also the country’s leading regional cable operator.