France Télécom has completed the sale of the Dutch cable operator Casema in a deal worth €665 million.
Providence Equity Partners and the Carlyle Group will each take a 46% share of the business with GMT owning the remaining 8%. Casema is the third largest cable television operator in the Netherlands and has approximately 1.3 million subscribers.
France Télécom is Europe’s second largest phone company but is selling assets in a bid to alleviate debts of €70 billion. A number of prominent telcos are in financial straits, illustrated by the fact that Deutsche Telekom has been forced to consider reduced bids for its German cable businesses (see Deutsche Telekom To Net ).
