Further consolidation in Spanish cable as Euskaltel swoops for Telecable
May 17, 2017
Basque cable operator Euskaltel has announced it is to acquire Telecable, a cable operator based in the Asturias region in the north of Spain, for a total value of up to €701 million. The cable operator is currently owned by UK investment group Zegona, which is headed by two former Virgin Media executives. The deal will be financed by a cash payment of €186.5 million to Zegona, as well as a 15% stake in Euskaltel. Regulatory approval for the deal is expected in Q3 2017.