German Cable Consolidation Sees Iesy Buy Ish

15 March 2005

Iesy, German cable company governed by US private-equity firm Apollo Management LP, hopes to snap up its competitor Ish for an estimated €1.55 billion ($2.08bn; £1.08bn), including the latter's €600 million debt.

The deal will create the second-largest German cable network operator, serving more than 5 million customers.

Television, radio and internet facilities are offered by both companies, who manage regional cable networks in Germany. Ish is the biggest cable supplier in North Rhine-Westphalia, whilst Iesy is the dominant service provider in Hesse with 1.2 million cable customers.

Last year, cable giant Kabel Deutschland tried to take over both Iesy and Ish, but was prevented when Germany's Anti-Trust Office raised objections.

A decision about the proposed venture is expected from the regulator by the end of June this year. Until then they will continue to work independently.

Data sourced from Wall Street Journal Online; additional content by WARC staff