www.WirelessFederation.com/news: An agreement was reached between the creditors and owners of German cable network operator Tele Columbus about a reorganization of the company. As per the agreement, Tele Columbus will be acquired by an independent Luxembourg-based holding company set up by more than 100 international creditors from its current owner Escaline subsidiary Orion Cable.

Financial restructuring specialist Boutique Nikolaus & Co will control the holding. Restructuring of Tele Columbus’s debt is the main goal of Nikolaus & Co. Tele Columbus will now be lead by COO Dieter Schickel and Andrew MacCallum of Alvarez and Marsal as chief financial advisor.

The agreement also makes it clear that the planned auction of the Tele Columbus shares on 30 December 2009 did not take place.