Liberty Media remains in running
BERLIN — Interest in Deutsche Telekom’s vast German cable assets appears to be dropping, and so does the price.
John Malone’s Liberty Media remains in the running along with bidding partners and finance investors Blackstone, Apollo and BFD Capital. The consortium is said to have made an offer of $1.5 billion to $1.6 billion — well below the $5 billion Liberty was set to pay for the same assets earlier this year before the deal was torpedoed by Germany’s cartel office.
Another group including investors Goldman Sachs, Apax Partners and Providence Equity have made a similar bid.
In July, Deutsche Telekom shortlisted six consortia that were to present tenders for the six regional cable franchises, which reach some 10.3 million households. Final bids are due by the end of the week, but the standing offers remain well below Deutsche Telekom’s expectations.
Last month the telco put the estimated price of its cable holdings at $3 billion.