U.S. private-equity firm Providence Equity Partners LLC is preparing to take German home-shopping TV network HSE24 public in 2019 after plans to sell the business fell through, people familiar with the matter said.

Providence is targeting a market value of at least €1.5 billion ($1.75 billion) from the initial public offering and subsequent stock-market listing. IPO markets in the U.S. and Europe have had a strong start to the year.

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