Carlyle Closes French Cable Deal

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Private equity giant The Carlyle Group said Tuesday that it has completed its $1.7 billion (1.1 billion euro) purchase of a 37.8% equity stake in French cable operator Numericable and corporate telecommunications service provider Completel from existing shareholders Altice and Cinven.

In a statement, Carlyle said the investment is the largest ever made by a single private equity firm in France.

Denver-based cable and telecommunications investment banker RBC Daniels and Goldman Sachs represented The Carlyle Group in the transaction.

Numericable, formed from the merger of nearly all of the cable operators in France in 2005, controls about 99% of the French cable market, according to reports. The deal was first announced in December.

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