Posted: Wed., Jul. 28, 1999, 11:00pm PT

German bank plots cable acquisition

Consortium eyeing Deutsche Telekom stable

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BERLIN -- Germany's Hypoveriensbank confirmed Tuesday that it is eyeing a number of Bavarian cable systems for acquisition.

Hypoveriensbank said that it had formed a consortium with other banks to acquire the systems from cable gatekeeper Deutsche Telekom. In the event of a successful buy, Hypoveriens said it would float them as a unit midterm.

Bids are to be in by Aug. 13 for the nine regional cable networks DT is in the process of spinning off. It plans to maintain a 25% stake in the German cable networks.