KKR, Cinven, Providence plotting joint takeover of MASMOVIL

1 Jun 2020

Buyout funds KKR, Cinven and Providence have launched a joint takeover bid for Spanish alternative operator Grupo MASMOVIL, Reuters reports, citing two sources close to the matter. The EUR22 (USD24.4) per share offer values the telco at around EUR3 billion – notably higher than its current market value, which is in the region of EUR2.4 billion. Providence already owns 9.16% of MASMOVIL, but if the bid goes through the three parties will take equal shares in the company, the sources noted.

Spain, Cinven, Grupo MASMOVIL (incl. Yoigo), Kohlberg Kravis Roberts & Co (KKR)