Two sources said that British “BC Partners”, which acquired United Group in 2019 from “KKR”, is currently working with advisors on a sale process that is scheduled to begin in the coming weeks.
The third source said that Saudi STC is in an early stage of work on this deal, which may or may not lead to submitting an official offer.
One source said the deal could value United Group at about eight billion euros ($8.7 billion), including debt.
But the sources, who requested to remain anonymous due to the confidentiality of the matter, warned that the deal has not yet been confirmed and may not happen, according to Reuters.
If Saudi STC succeeds in reaching a deal to buy United Group, this will enhance its expansion in the European telecommunications sector.
Last year, the largest telecommunications group in the Kingdom said that it had acquired a 4.9 percent stake in the Spanish company Telefonica, with the possibility of increasing it to approximately 10 percent.
Last year, STC’s subsidiary, Twal, acquired the telecom tower assets of United Group in Bulgaria, Croatia and Slovenia.
Two of the sources said that BC Partners is considering different ways to maximize the sale, including dividing it into different regions.
One of the sources said that the sale process is also receiving interest from infrastructure funds that are willing to submit bids in countries such as Greece, Croatia and Slovenia.
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