Two submit bids for Auna

12 Jul 2005

Two consortia backed by major private equity groups have submitted separate bids worth nearly EUR7 billion to purchase Spanish telecoms and cable operator Grupo Auna. The first group, fronted by Kohlberg Kravis Roberts & Co of New York, is hoping to acquire the whole company, including its Spanish mobile arm Amena. Meanwhile the second bidding group, led by US-based Providence Equity Partners with three other, is opting to tender in two parts – bidding for Amena and the rest of the company separately. The offered already submitted are lower than had been expected and could be rejected by Grupo Auna’s main shareholders, banking heavyweight Banco Santander Central Hispano and utilities Endesa and Union Fenosa.