Versatel sells cable business | News | Rapid TV News
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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.

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