By Carlos López Perea and David Roman
MADRID--Spain's telecommunications firm Euskaltel Wednesday said
it plans to list shares in Madrid later this year, in a deal that
will target foreign institutional investors.
Euskaltel, a company based in the Basque Country, northern
Spain, said current shareholders will sell existing shares in an
initial public offering. Euskaltel's shareholders are savings bank
Kutxabank SA, investment firm International Cable BV and power
company Iberdrola SA.
The deal will be jointly coordinated by JP Morgan Securities PLC
and UBS Ltd., Euskaltel said in a statement.
Euskaltel is the leading broadband and pay-TV provider in the
Basque Country, where its network reaches 85% of households. The
company posted EUR321.2 million in revenue last year.
If the IPO is completed, it would be the latest in a series in
Madrid this year, including those of airport operator Aena SA,
investment firm Saeta Yield SA, retail store operator Naturhouse
Health SA, Cellnex Telecom SA and train manufacturer Talgo SA.
Write to Carlos López Perea and David Roman at
David.Roman@wsj.com
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