Tele Columbus AG, the third largest German cable network operator, announced the launch of a capital increase for the purpose of financing the major acquisitions of this year.
With the proceeds of the capital increase by way of a rights offering, Tele Columbus will repay an equity bridge loan and part of a second lien facility for the PrimaCom acquisition completed in July 2015 as well as partly fund the acquisition of pepcom announced in September 2015.
Tele Columbus expects gross proceeds from the offering in the amount of approximately EURO 382.7 million.
