Pinebridge received several offers for AKTA takeover as there is “huge” interest in market consolidation, another source close to the talks told ZF, which maintains negotiations are not at a deadlock.
Contacted by ZF, AKTA representatives chose not to comment on the information.
With a portfolio of 500,000 users for cable, internet and data services, AKTA is the most important independent “asset” for sale on the cable market. The company is mainly present in rural areas and in small cities. According to unofficial data, AKTA network covers around two thirds of Banat and Moldova, around one third of Muntenia and around half of Brasov county villages.
In the past two years, talks about telecom market consolidation have intensified and so have major operators’ moves to slash costs. However, it is not clear whether the four major players in Romania will be ready to come up with a sum close to the one asked by Pinebridge for DCS to strengthen their local foothold.
Nonetheless, Pinebridge reportedly counts on the rising valuations of cable operators in Europe and on the consolidation opportunity viewed as strategic for the Romanian market to get the price it wants for AKTA.
E&Y was last spring mandated by Pinebridge to find a buyer for AKTA. The company generated revenue worth EUR40 million in 2013. Pinebridge owns around 65% in AKTA.
(English version by Catalina Apostoiu)