Jul
28
MADRID, July 28 Spain’s Euskaltel said
on Tuesday its acquisition of fellow cable operator R Cable,
based in the northwestern region of Galicia, would deliver
synergies in line with other deals in the cable sector and help
it make payouts to shareholders.
Euskaltel, which agreed last week on an offer for R which
valued the group at 1.2 billion euros ($1.33 billion), said it
would be paying 600 million euros in cash and the rest in newly
issued shares.
The move by Euskaltel, based in the Basque Country and which
was listed on the stock market earlier this year, marks the
latest wave of consolidation in the Spanish telecoms market.
($1 = 0.9043 euros)
(Reporting by Sarah White; Editing by Julien Toyer)
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