This is apparently the first Orion subsidiary Tele Columbus. Of the Level 4 operator is mostly in the eastern German federal states, as well as various West German regions present. In addition to the Tele Columbus is also especially well-represented in Berlin providers Primacom to Orion Group, which is in turn controlled by the Luxembourg Escalin holding company. Overall, the group indicated that reached after approximately 3.8 million households and 3.2 million have joined them.
According to Handelsblatt Escalin groaning under a debt of 1.7 billion euros. A slight billion of which is for information the Financial Times Germany (FTD) alone on Tele Columbus omitted. The investment company behind Escaline were saddled with the financing of the acquisitions of several smaller cable operators formed from the Orion Group. While Tele Columbus is solidly positioned operationally, but the huge debt eat up the profits of the company, according to FTD and brought to the brink of insolvency.
A debt moratorium for the payment of interest due in August, which will endorse a large number of lenders gives Tele Columbus again to breathe and a chance to reorganize the debts. According to FTD, the owners and banks that want to prevent the debt will be sold at cut-price operators need. The currently available bids of around 450 million euros were the owners too low.
The interest of KDG Obviously, Germany’s Cable Primus would gain access networks in new regions. Blackstone was awarded the contract, the investor could pass on the various networks to interested cable operators. Both would encourage the consolidation of the fragmented German cable market.
Versatel other hand, sees as a telephone and DSL providers an opportunity with the acquisition of the cable network’s position in the expanding telecommunications market and position themselves as competitors of the two cable sizes KDG, Unity Media. The Düsseldorf had taken over the past year, the smaller cable operators MediaHome and AKF. Versatel has been in the past even acted again as a takeover candidate.
However, Versatel could lift the acquisition of Tele Columbus is not alone, says the Handelsblatt. In financial circles would assume that the Insertion Versatel owner the necessary means. The investor Apax Partners holds more than 40 percent of the network operator, with 25 percent cırt investments and the Internet service provider United Internet are involved.