23rd May 2016 05:45
LONDON (Alliance News) - Sky PLC is being courted by at least five private equity groups seeking to get its backing for a bid for mobile operator O2, The Sunday Telegraph reported.
Discussions on a possible GBP9.0 billion offer for O2, the UK mobile operator which has just seen its proposed merger with smaller rival Three UK blocked by European regulators, are at an early stage, the newspaper said.
Those understood to have held talks with Sky include the likes of KKR, TPG, Bain Capital, Apax Partners, Apollo Global Management and CVC Capital Partners, the Telegraph said.
Sky's backing for a bid could be crucial as it is set to launch its own mobile service based on O2's network later in the year.
http://www.telegraph.co.uk/business/2016/05/21/sky-the-kingmaker-in-o2-buyout-battle-as-private-equity-giants-s/
By Sam Unsted; [email protected]; @SamUAtAlliance
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