Kabel Offering Underscores Lukewarm European IPO Market

When private equity (PE) fund Providence announced that it was putting Kabel Deutschland on the IPO block, many in the market were hoping that this could signal a revival of private equity (PE)-backed IPOs and give a boost to the moribund European IPO market in general. As we have suggested since the beginning of the New Year, however, the improvement in the overall prospects of the European IPO market was always going to be gradual, and the Kabel IPO has confirmed our views.

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