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September 1, 1997updated 03 Sep 2016 9:21pm

O.TEL.O TELECOMS VENTURE SEEKS US SHAREHOLDER

By CBR Staff Writer

Telecommunications joint venture O.Tel.O – 40% owned by German utilities companies Viba AG and 37.5% owned by RWE AG – says it expects a US buyer to emerge for the remaining 22.5% stake within the next 12 months. Currently the 22.5% stake is held by Lehman Brothers, following the withdrawal of Cable & Wireless Plc earlier this year (CI No 3,092) O.Tel.O, based in Berlin, is Germany’s second largest cable television provider. Vice chairman and chief operating officer Alex Stadler told Dow Jones that the buyer was likely to be a forward-thinking regional Bell operating company.

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