A consortium of three buyout funds including KKR and Cinven is looking to launch a takeover bid for Spanish telecoms company MasMovil , two sources close to the matter told Reuters.
FILE PHOTO: A balloon with the MasMovil logo is seen as the telecoms company makes its stock market debut in Madrid, Spain, July 14, 2017. REUTERS/Juan Medina
Providence already owns 9.16% of MasMovil, which provides fixed line, mobile and internet services to Spanish households. The bid is expected to value the business at slightly more than 22 euros per share, with its overall value hovering around 3 billion euros, one of the sources said. MasMovil declined to comment while Morgan Stanley and Freshfields representatives were not immediately available.
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