Cable firm Casema may be sold

14th April 2006, Comments 0 comments

14 April 2006, AMSTERDAM — Casema, the third-largest cable television company in the Netherlands, may be sold off, a company spokesman confirmed on Friday.

14 April 2006

AMSTERDAM — Casema, the third-largest cable television company in the Netherlands, may be sold off, a company spokesman confirmed on Friday.

Casema has 1.3 million subscribers, centred on The Hague, Utrecht, Breda and Amersfoort. Investment companies Carlyle, Providence and GMT Communications Partners bought Casema from France Télécom for EUR 665 million in 2002.

The Casema spokesperson agreed with news agency ANP that an asking price of EUR 2 billion now would "not sound strange to the ear". He said other options, such as a merger or refinancing the business, are also under consideration. "The owners have informed us they are looking at the future for Casema...at some stage these sorts of investors want to collect their profit."

The investment companies are said to be considering three options. The first is selling Casema to another cable company, probably one from the US with a large amount of funds for a takeover. Alternatively, Casema could be merged with another company. The most likely candidates are utility and cable firm Essent or the Amsterdam-based cable giant UPC.

Under the third scenario, some of the large shareholders could withdraw, with the other retaining their stake or increasing it. Financial newspaper 'Het Financieele Dagblad', which broke the story on Friday, said the option of a stock market floating is also being examined. Casema's spokesman could not confirm this.

[Copyright Expatica News + ANP 2006]

Subject: Dutch news

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