EE could be target of £10bn private equity buyout

Private equity firms are ramping up their efforts to secure funds for a possible £10bn bid to acquire EE, the UK’s largest mobile operator, according to a report in the Financial Times. Two private equity groups, Apax and KKR, and another led by Blackstone and CVC Capital Partners, are developing competing offers for EE that could see a £7bn debt package raised to finance the acquisition, according to the report, with the private equity firms placing around £3bn of their own funds into the deal.

However, while EE reportedly would prefer an IPO, its owners (Deutsche Telekom and France Telecom) could be persuaded to accept a sale if the private equity offer meets their expectations and is fully-financed, according to FT.

FierceWirelessEurope: Report: EE could be target of £10B private equity buyout; TelecomTV content partner.