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Versatel sells cable business
VersatelGerman 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.
VersatelGerman 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.