Diamond Cable Communications has announced that it is to acquire East Midlands Cable Group from SaskTel, Fundy Cable and John Laing. East Midlands Group owns the broadband cable franchises of Leicester and Loughborough, Burton-Upon-Trent and Hinckley & Bosworth, in total around 336,070 homes in the East Midlands.
Upon completion of the transaction, and upon the grant of the local delivery license for Lincolnshire and South Humberside, for which Diamond was the sole bidder, Diamond will cover in excess of 1.1 million homes.
Diamond has also announced that following these transactions, it intends to consider an initial public offering later this year.
Diamond Cable: 0155 912 2242
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