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Spain's largest cable company, ONO, may be gearing up to take over smaller rival, Telecable, who operate in the Asturias and in Extremadura with around 160,000 with a customer base of around 160'000.
The operation has been backed by France's Societe General Bank and is expected to be finalised before the end of September.
Spanish Caja, Cajastur, currently own 91.8% of the shares in Telecable, where the overall value of the company has been put at anywhere between 350 - 420 Million Euros.
A little over a year ago the company successfully bid for a licence in the auction of wireless spectrum to operate a mobile LTE network in the Asturias in the 2.6 GHz band at the cost of €700'000. Telecable now intend to €35 million over the coming ten years to install between 100 and 200 base stations.
If they are successful in their bid to acquire the company, it would allow ONO to establish a presence in two regions where they do not currently operate.
