BERLIN — Believing its chances of buying in are bleak, DB Investor, a unit of Deutsche Bank, has given up on its bid to purchase stakes in Deutsche Telekom’s $15 billion regional cable television networks, German financial magazine Teleborse has reported. Deutsche Bank is Germany’s largest bank.
According to the mag, the company has nonetheless found solace in an offer by U.S. rival Callahan Associates to buy its Telecolumbus unit for $1.4 billion. DB bought the firm, Germany’s second largest cable operator, a year ago for $687 million.
German media reported earlier in the week that the Callahan purchase of a stake in the regional cable franchise in the state of Baden-Wuerttember should be wrapped up by early May. Outfit bought a 55% stake in Telekom’s cable systems in Germany’s most populous state, North Rhine-Westphalia, earlier this year.