Bancroft Private Equity is believed to have hired Rothschild to lead a sale of its 68% majority stake in Estonian internet service provider (ISP) and cable TV operator Starman. TMT Finance reports that US-based Advent International is considered the frontrunner to acquire the stake, and has appointed Unicredit to advise it on the purchase.
The stake is currently owned by Bancroft’s Dutch subsidiary Xalto, which acquired the asset in September 2007, when the firm was still listed on the Tallinn bourse. Starman was delisted on 5 March 2009.
In other news, TMT notes that fellow privately-held cableco STV is also thought to be considering a sale and could also pique the interest of potential Starman bidders.