UAE’s e& seeks to buy $8.6 bln European carrier United Group: Reports, ET Telecom
Abu Dhabi-based Emirates Telecommunications is considering an acquisition of European cable and pay-TV operator United Group at a valuation of around 8 billion euros ($8.6 billion), Bloomberg News reported on Tuesday.
Private equity firm BC Partners in September last year bought a majority ownership of United Group from private equity firm KKR. KKR, however, retained a substantial minority stake.
BC Partners now plans to kick off a formal sale process for United Group next month, the Bloomberg report added, citing people familiar with the matter.
United Group did not immediately respond to a Reuters request for comment. Emirates Telecommunications couldn’t be reached outside business hours.
