Spanish telecom operator MasMovil has started talks over a possible merger with the Spanish unit of U.K.-based telecom operator Vodafone, newspaper Expansion reported, citing sources with knowledge of the process.
MasMovil, which was taken over by three buyout funds including KKR last year, has set a first valuation of the Vodafone unit at 7.5 billion euros ($8.96 billion), the newspaper said.
Expansion did not say who would control the merged entity if a merger proceeded.
A MasMovil spokesman said he could not immediately comment, while a spokesman for Vodafone declined to comment.
Back in September, MasMovil and its private equity owners denied a previous press report about merger talks between the two rival telecom operators.
Source: Reuters
Can’t stop reading? Read more
Permira pivots Asia strategy toward India, winding down China offices amid regional reshuffle
Permira pivots Asia strategy toward India, winding down China offices amid regional reshuffle...
KKR appoints Morgan Stanley for potential Logisteed IPO in Tokyo as Japan’s listing market heats up
KKR appoints Morgan Stanley for potential Logisteed IPO in Tokyo as Japan’s listing market heats...
Private equity in 401(k)s: who it suits—and who should steer clear
Private equity in 401(k)s: who it suits—and who should steer clear As private equity becomes more...