PE firms keen on GBP10bn EE buyout

25 Mar 2013

Two separate private equity consortia are reportedly in the process of persuading banks to help fund a buyout of UK mobile giant EE, in a deal which could be worth over GBP10.0 billion (USD15.2 billion). According to TMT Finance KKR and Apax have formed one alliance, while rivals CVC and Blackstone are also believed to have joined forces; both sets of buyers are said to be in early discussions with banks over the purchase of the company which is co-owned by France Telecom-Orange and Deutsche Telekom.

In other news, EE is also thought to be in the process of appointing banks to lead a possible IPO later in 2013. Morgan Stanley is expected to be the lead underwriter, while JP Morgan and Barclays are also likely to take on major roles.

United Kingdom, EE