Germany’s third-largest cable operator Tele Columbus is apparently planning to split its business into a network unit and a service unit with the intention of selling the newly created network company.
US bank Goldman Sachs been commissioned by Tele Columbus to prepare the move, reports TMT Finance. Although it was too early to obtain a clear valuation, sources said that a sale of this asset would command “billions of euros”.
In a statement regarding recent media speculation, Tele Columbus confirms that it is currently “in the very early stages of evaluating options to take advantage of value creating fibre opportunities in the German market. This may include a new structure of the group in order to allow for the participation of an investor into Tele Columbus’ network assets.”
However, at this point in time, the investigation remains preliminary and no decisions have been made, stresses the company.
“Tele Columbus will only pursue a transaction that is strategically compelling and creates value for its shareholders. There is no certainty that any transaction will be agreed, nor as to the terms or timing of any transaction. Any further announcement will be made as and when appropriate.”