Tele Columbus shareholders approve capital increase

An Extraordinary General Meeting of Tele Columbus shareholders has approved a capital increase of up to 100% of the existing capital with pre-emptive rights to finance the acquisition of Pepcom.

Tele Columbus, Germany’s third largest cable operator, announced this week that it was acquiring Pepcom for €608 million from existing owner Star Capital. Pepcom operates cable networks in cities including Munich, Nuremberg, Leipzig and Frankfurt am Main.

The deal follows Tele Columbus’s agreement to acquire number four operator PrimaCom for €711 million in July.