Private equity firms circle O2 UK

14 Jun 2016

O2 UK is reported to be an acquisition target for two of Europe’s largest private equity firms, following the recent collapse of its proposed GBP10.25 billion (USD14.56 billion) sale to Hong Kong-based CK Hutchison. According to a report by the Sunday Times, Luxembourg-based CVC Capital Partners is considering teaming up with Apax Partners of France to form a consortium to buy the cellco from its Spanish owner Telefonica.

The report claims that other non-industry players such as KKR and Blackstone are monitoring the situation with interest, while current O2 UK CEO Ronan Dunne has also been linked with plans for a management buyout. Virgin Media owner Liberty Global and French budget mobile operator Iliad are also known to be interested in O2, which claimed a market-leading 30.8 million UK mobile subscribers at end-March 2016.

United Kingdom, Apax Partners, O2 UK, Telefonica