UK private equity consortium withdr

The consortium of UK private equity groups, Apax, Cinven and CVC Capital Partners, is reported to have withdrawn its bid to acquire an 83% stake in the Spanish telecoms operator Auna, from Spanish banking group Santander Central Hispano (SCH) and power groups Union Fenosa and Endesa. The withdrawal leaves two major groups bidding for Auna: the consortium of Blackstone, Providence, Carlyle and Permira, which has launched one bid for Auna's mobile division and another separate bid for its fixed-line cable telecoms division (the latter valued at approximately E2.5bn); and US private equity group KKR, backed up by BC Partners and Goldman Sachs, which has presented an initial bid of around E12.5bn for 100% of Auna.

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• Topics
• UK / Ireland
• Technology