Petr Kellner’s PPF Group has reportedly joined Polish telco Netia in a bid for GTS Central Europe.
The private equity group, which is based in Guernsey and focuses on investments in Central and Eastern Europe, is acting in consortium with Netia in a…
Petr Kellner’s PPF Group has reportedly joined Polish telco Netia in a bid for GTS Central Europe.
The private equity group, which is based in Guernsey and focuses on investments in Central and Eastern Europe, is acting in consortium with Netia in a bid for the infrastructure-based telecoms service provider, the Budapest Business Journal reported without citing sources.
If successful, the takeover would increase the likelihood of PPF becoming the fourth player in the Czech mobile market, the report noted. PPF is rumoured to be the most likely participant, outside of the Czech Republic’s three existing mobile operators, in the nation’s planned spectrum auction.
PPF and GTS declined to comment on the matter. Netia was not immediately available for comment.
A bid from PPF and Netia could pit them against Germany’s Deutsche Telekom, which is reportedly working on a takeover of GTS that would value the company at about €600m (US$775m).
In late May, reports in the German and US editions of the Wall Street Journal cited sources as saying the German incumbent had hired Credit Suisse and Deutsche Bank to advise it on the matter, while GTS’ private equity owners had appointed Goldman Sachs.
According to its website, GTS generated a turnover of €387m in 2012, EBITDA of €103m, and a free cash flow of €53m.
