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Euskaltel to buy regional operator R for EUR 1.16 bln

2015-07-24 09:48:00| Telecompaper Headlines

(Telecompaper) The consolidation of the Spanish telecommunications market shows no sign of abating with regional cable operator Euskaltel, operating in the Basque Country, agreeing to purchase rival cable provider R, operating in Galicia, for EUR 1.16 billion. In a statement outlining the terms of the deal, Euskaltel said it offered R's shareholders cash and new shares valued at 10.9 times the company's EBITDA. The deal means CVC Capital Partners, which had a 70 percent stake in R, will become one of Euskaltel's leading shareholders. In a statement to Spain's market regulator CNMV, Euskaltel said the combined entity will have over 715,000 residential and business customers and that the companies will continue to operate under their original brands in their respective regions in northern Spain.

Tags: buy eur regional operator

Category:Telecommunications

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