Private equity group Apax is nearing a deal to buy Warburg Pincus out of their joint investment in Dutch telecom group Odido, the Financial Times reported on Saturday.
The deal would value Odido at about €6.5 billion ($7.4 billion), the FT reported, citing people familiar with the matter
In February, Odido, owned by Apax and Warburg Pincus, postponed plans for an initial public offering in Amsterdam after a muted response from investors and concern over the extent of volatility in global equity markets
In the same week, the Dutch telecoms group suffered a cyberattack that exposed personal information from more than 6 million accounts
The owners have since received approaches for the business from suitors including Saudi Arabian state-backed telecoms group STC, the FT reported
Apax, Odido and Warburg Pincus declined to comment. STC did not respond to Reuters’ requests for comment outside regular business hours,
Reuters
