Six private equity firms are said to be evaluating bids for the telecoms arm of Spanish utility Gas Natural, which could fetch €500m to €600m.
Apollo Global Management, Blackstone, Bridgepoint, Carlyle, Cinven and EQT Partners are all reported to be…
Six private equity firms are said to be evaluating bids for the telecoms arm of Spanish utility Gas Natural, which could fetch €500m to €600m.
Apollo Global Management, Blackstone, Bridgepoint, Carlyle, Cinven and EQT Partners are all reported to be eyeing wholesale operator Gas Natural Fenosa Telecomunicaciones, people familiar with the matter told Bloomberg.
The dark fibre operator has a footprint covering Spain, Central America, Panama and Colombia and. Local utility Red Electrica Corp could also bid.
Gas Natural is disposing of the asset to raise funds as domestic energy regulations are eating into its revenues. It expects to receive non-binding offers by tomorrow, according to the report.
The unit has 30,000km of fibre optics, with access to the main submarine cable head-ends. It also has three satellite platforms in Spain and Panama, more than 4,000 VSAT terminals and more than 1,400 telecommunications nodes.
