Spanish takeover specialist Grupo MASMOVIL is among the front-runners for the acquisition of BT Espana, Expansion reports, citing sources close to the process. The sale, which is being overseen by Credit Suisse, is said to be entering its final phase, while other interested parties include US private equity firm Carlyle and Spanish venture capital firm Portobello Capital. Orange Espana, meanwhile, has exited the process, after baulking at the asking price, which is estimated to be in the region of EUR250 million to EUR300 million (USD275 million to USD330 million).
The divestment represents just one component of the break-up and restructuring of BT’s international arm, Global Services. Late last month it was reported that BT Group was in exclusive talks with London-based Mayfair Equity Partners over the sale of BT Ireland. That deal is expected to be valued in the region of EUR462 million.
Other BT units up for sale include BT Latin America, which is valued at GBP1 billion (USD1.2 billion), BT Netherlands (GBP100 million) and BT Italia.