Kabel Deutschland GmbH, Germany's largest Cable Operator, plans for a partial Initial Public Offering, after a planned multi-billion Euro sale by Owner on the Frankfurt Stock Exchange.

Kabel Deutschland, which had 8.9 million subscribers, had initially rejected bids for the company of about 5.5 billion Euros from firms including BC Partners Ltd., CVC Capital Partners Ltd. and Advent International Plc.

"The owners only want to dispose of a small share because they are convinced that Kabel Deutschland will create great value and wish to maintain a large exposure to the operating performance of the company", said Insa Calsow, a Spokeswoman.

Private equity firm Providence Equity Partners Inc., based in Rhode Island, owns about 88% of Kabel Deutschland. The Teachers Pension Plan holds about 8% and KDG Management with others holds 4%.

Kabel Baden-Wuerttemberg GmbH & Co. KG in Heidelberg, is the third-largest, with 2.3 million subscribers.

Malone's Liberty Global paid BC Partners and Apollo Management LP about 2 billion Euros for Unitymedia and as a result of the deal, Liberty Global got the largest cable operator in the states of North Rhine-Westphalia and Hesse, one of Germany's most prosperous and densely populated regions.