Private equity firm KKR is reportedly considering selling German alternative telecoms operator Versatel.
The potential sale could generate interest from UK-based Vodafone and Spain’s Telefonica given Versatel’s extensive fibre optic network, the Wall…
Private equity firm KKR is reportedly considering selling German alternative telecoms operator Versatel.
The potential sale could generate interest from UK-based Vodafone and Spain’s Telefonica given Versatel’s extensive fibre optic network, the Wall Street Journal reported citing people familiar with the matter.
KKR, Vodafone and Telefonica have declined to comment.
KKR acquired a majority stake in Duesseldorf-based Versatel from its then three major shareholders, led by private equity firm Apax Partners, in mid-2011 and then completed a buyout of the remaining shares, paying a total of about €240m.
Versatel, which provides voice, internet and data services, says its fibre optic network extends about 53,000km throughout Germany.
Both Vodafone and Telefonica are big players in the German telecoms market.
bought the country’s largest cableco KDG last year as part of its strategy to expand its fixed-line assets in Europe.
Earlier this month, Telefonica’s German unit won clearance from the European Commission to acquire local mobile operator E-Plus for €8.6bn. The deal is expected to close in the third quarter of the year.
