Norwegian mobile operator Telenor, US private equity firm Saban Capital, Wind majority shareholder Weather Investments, a group of Wind’s senior bondholders and two unspecified Greek companies are among the six possible suitors for Greek mobile operator…
Norwegian mobile operator Telenor, US private equity firm Saban Capital, Wind majority shareholder Weather Investments, a group of Wind’s senior bondholders and two unspecified Greek companies are among the six possible suitors for Greek mobile operator Wind Hellas, reports the Financial Times.
There is no mention of Russian mobile operator Vimpelcom, which has said it is in talks with fellow Nasguib Sawiris controlled company Orascom and has been linked to interest in his Italian asset Wind Italy.
The six are reportedly carrying out due diligence, with binding offers due September 15.
The senior secured bondholder group comprises Anchorage Advisors, Angelo Gordon, Eton Park, Mount Kellet and Taconic Capital, the paper said. Sources alleged that the E1.2bn valuation of outstanding senior secured bonds – which the market has discounted to 30-40% of face value – was greater than the company’s current enterprise value. The company has a further E355m in outstanding senior unsecured bonds as well as a E250m revolving credit facility.
Morgan Stanley and White & Case are running the sale.
