AKTA, the third largest player on the local cable TV market, will be put up for sale by its majority stakeholder, the US-Asian investment fund Pinebridge, according to market sources cited by local Ziarul Financiar.

The deal would amount to over EUR 100 million, and would be one of the largest transactions of the year. Company representatives declined to make any comment.

AKTA has an annual turnover of over EUR 50 million, and is behind RCS&RDS and UPC on its segment.

The talks about the sale of AKTA first started in 2014, when Pinebridge asked the consultancy firm EY to find a buyer, at a price of over EUR 200 million. The price was deemed too high back then. Companies such as UPC and Vodafone showed interest, but offered only half of the price, namely EUR 100 million.

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editor@romania-insider.com