UBS has reportedly kicked off a €1bn sale of Finnish mobile operator DNA by issuing information memorandums to prospective buyers.
The bank sent out IMs this week, with Swedish buyout firms EQT and Nordic Capital likely to bid for the group, reported…
UBS has reportedly kicked off a €1bn sale of Finnish mobile operator DNA by issuing information memorandums to prospective buyers.
The bank sent out IMs this week, with Swedish buyout firms EQT and Nordic Capital likely to bid for the group, reported Reuters citing sources.
The parties were unable to comment on the matter.
Rumours that DNA could be put up for sale have been circulating the market for a while, and the operator has previously said it is normal policy to review all financing options to support future investments, including a sale, to avoid taking on more debt.
Chairman Jarmo Leino declined to comment on specifics when contacted by TelecomFinance, but reaffirmed that the company continued to be open to all options.
In March, DNA was reported to be considering the sale of a controlling stake to an outside investor or in an IPO this year to raise as much as €500m.
The company is owned by regional phone carriers led by Finda Oy, which had a 32.56% stake at the end of 2012 and is headed by Leino as CEO.
Its competitors in Finland include Nordic giant TeliaSonera and local rival Elisa.
