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Versatel sells cable business

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  • aaba
    Banned
    • Jun 2010
    • 1807

    Versatel sells cable business

    Versatel sells cable business

    Jörn Krieger


    German telecommunications company Versatel has sold its cable business to financial investor Chequers Capital. The purchase price for 100% of the shares was €66m, the company announced in Düsseldorf.


    At the same time, both sides agreed on a wholesale contract for the provision of network level 3 services based on Versatel's network infrastructure with a turnover of around €9m.

    With its retreat from the cable business, Versatel wants to fully focus on its B2B services in order to be able to make more use of its competitive advantage: its own broadband network. The company wants to continue being a partner of cable operators with its infrastructure, for example by providing network level 3 backbone services for internet and telephony.

    The federal cartel office and regulatory authorities still have to approve the deal. Versatel provides around 185,000 cable customers with TV, internet and telephony.
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