EQT set to sell or float Kabel
EQT is looking to exit German cable operator Kabel Baden-Wuerttemberg either through a sale or a flotation, according to reports.
It is believed that JP Morgan and Deutsche Bank have been chosen as advisers for the sale that could take until Q2 2011 to close. Interest for the IPO is reported to have increased following the success of Kabel Deutschland, which was floated in March.
EQT acquired the company from Blackstone in 2006 for €1.3bn and has since supported the company's network expansion. In the first nine months of 2010, the company recorded EBITDA of €231m.
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