Im Netz sind seit gestern Informationen aus den USA zu finden, die evtl. darauf hindeuten, das ein Käufer für das Tochterunternehmen Multikabel gefunden wurde.
Sollte dieser Deal tatsächlich zum Abschluss kommen, wären wahrscheinlich Kurssprünge von 400 bis 600 Prozent die Folge.
Hier die Quelle: (Noch nicht bestätigt von Seitens Primacom)
UPDATE:Primacom Seeks Unit Sale To Warburg Pincus-Source
22 April 2005 16:04 Dow Jones International News Englisch (c) 2005 Dow Jones & Company, Inc. (This updates an item from around 1134 GMT to add the potential buyer.)
By Joon Knapen Of DOW JONES NEWSWIRES
FRANKFURT (Dow Jones)--Primacom AG (PCAGY) has reached an agreement to sell its Dutch Multikabel unit to U.S. private equity firm Warburg Pincus LLC (WBP.XX), but still needs approval from some of its lenders before it can close the deal, people familiar with the situation have told Dow Jones Newswires. The preliminary agreement on the Multikabel sale for a price at or above the EUR530 million asking price was reached in early April, one person said, and comes little over a month after Primacom failed to sell the unit to Swedish buyout firm EQT. German cable television operator Primacom has made the sale of Multikabel, based at Alkmaar in the Netherlands, a key element of its financial restructuring. Primacom is unprofitable and needs cash to cut estimated debt of EUR1 billion. Primacom started exclusive talks with Warburg Pincus on Feb. 18, days after talks with EQT collapsed, the people said. A London-based spokeswoman for Warburg Pincus declined to comment. A spokesman for Primacom said the company doesn't comment " on ongoing negotiations." Multikabel, which operates a network north of Amsterdam, generates between EUR75 million and EUR80 million in annual sales. It has an earnings before interest, taxes, depreciation and amortization, or EBITDA, margin of around 60% of sales, one person said. People familiar with the disposal plan have said Primacom's price tag for the unit is at least EUR530 million. Primacom, which had 1.4 million subscribers in Germany and the Netherlands at the end of 2003 and offers TV and high-speed Internet, announced in late 2004 a controversial plan to sell Multikabel. The company is in a legal battle with a group of lenders, including Apollo Management LP (AM.XX), JP Morgan Chase & Co. (JPM) and Blackstone Group (BGP.XX). These so-called second-secured lenders are owed around EUR500 million, but rank behind Primacom's senior lenders - a syndicate of 16 banks, including Bank of America Corp. (BAC) and Dutch ING Groep NV (ING) - when it comes to being repaid. The senior lenders agreed to a sale of Multikabel. In January, the second secured lenders won an injunction that prevents a sale without their approval. The injunction was reaffirmed by a U.K. court at the beginning of April. Primacom is still waiting on approval from the second-secured lenders for the Multikabel sale, the people said. Earlier this week, the senior and second secured lenders held " intensive talks" in the Netherlands to come to an agreement about the financial restructuring of Primacom, and another meeting has been scheduled to take place soon, one person familiar with the matter said. The second secured lenders have been at loggerheads with management ever since their bid to take over the company was blocked by shareholders in June 2004. The largest shareholder in Primacom is John Malone's Liberty Media International Inc. (LBTYA), which has a 27% stake. Spokespeople for Apollo and JPMorgan declined to comment on the sale of Multikabel. One person close to the second secured lenders said " no new proposal has been submitted to them by Primacom" on the financial restructuring. Primacom shares have posted strong gains since the dismissal of the bid from Apollo and JP Morgan. They traded as low as EUR0.26 in spring 2004 and have been highly volatile. At 1450 GMT, the stock was up 2.4%, at EUR4.26. Company Web site: http://www.primacom.de -By Joon Knapen, Dow Jones Newswires; +49-69-29725509; joon.knapen@dowjones.com [ 22-04-05 1504GMT ]
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