Spanish venture capital firm Portobello Capital has emerged as the leading bidder for the acquisition of BT Espana, Expansion reports, citing sources close to the process. The sale, which is being managed by Credit Suisse, is valued at EUR200 million (USD220 million). The business daily notes that Portobello has beaten off stiff competition from domestic operators Grupo MASMOVIL and Orange Espana, as well as US-based Carlyle and German fund Aurelius Equity.
The divestment represents just one component of the break-up and restructuring of BT’s international arm, Global Services. Earlier this month reports that London-based Mayfair Equity Partners had agreed an EUR300 million takeover of BT Ireland were dismissed by people with knowledge of the matter.
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.