Telenet ponders flotation

The Belgian cable television operator Telenet has met to discuss the possibility of a public market flotation. A GIMV portfolio company since 1996, on behalf of the Flemish government to investigate whether there was a market for new services, the business has undergone a protracted investment history. GIMV then invested in the company in June 1998, committing BFr 711m for a 26% stake. In mid-2000, it was announced that Callahan Associates International LLC, the global communications development and operating company, had begun negotiations with the company to become its operating partner, via the acquisition of a 55% shareholding (page 24, June 2000). The deal finally completed in 2001 (page 36, February 2001), realising a partial exit for GIMV. The institution currently holds 14.9% of the company.Telenet is a broadband operator that offers such services as TV distribution, broadband internet access and telephony over the coaxial cable network. It is based in Mechelen.

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