Blackstone Group favourite for Telfort refinancing

As part of its refinancing of the company, Greenfield Capital is seeking buyers for a minority stake in Dutch mobile phone operator, Telfort, with reports suggesting that Blackstone is the frontrunner. If the deal with Blackstone is agreed, Telfort would then be able to provide services through phones, cable and satellite distribution channels due to the private equity group’s recent acquisition of Dutch satallite company, New Skies Satallites, for $956m. Greenfield bought Telfort in mid-2003 for £25m, after mm02, the UK-based vendor, wrote off £1.4bn. The refinancing would add leverage to allow the group to make larger deals in the future. ABN AMRO is advising Greenfield.

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