Swedish cableco Com Hem’s PE owners could reportedly cancel the group’s sale process in favour of launching an IPO after summer.
PE firms BC Partners and Cinven are still in the running for the group, which is owned by Carlyle and Providence, but the…
Swedish cableco Com Hem’s PE owners could reportedly cancel the group’s sale process in favour of launching an IPO after summer.
PE firms BC Partners and Cinven are still in the running for the group, which is owned by Carlyle and Providence, but the euro-zone debt crisis has made the outlook for a buyout more uncertain, reported Dow Jones citing sources.
The development comes after CVC and Nordic Capital withdrew from the auction last week.
It is understood the two groups were unwilling to pay the E1.8bn being asked for by Com Hem’s sellers.
Meanwhile, a source familiar with the situation has told TelecomFinance that the emergence of a new strategic suitor, which is thought to be advised by Goldman Sachs, had been responsible for delays in the bidding process. Final bids for Com Hem had originally been due for 8 July.
Deutsche Bank and Morgan Stanley are running the auction process.
