Private equity firms Blackstone Group and Kohlberg Kravis Roberts & Co. are weighing up offers for France Telecom‘s stake in Mobistar, Reuters reported. The firms are studying France Telecom’s 52.9% stake. A potential buyout could value Mobistar at more than 3 million euros ($4.29 billion), Reuters reported.
(Reuters) – Buyout firms Blackstone and KKR are weighing up offers for France Telecom’s stake in Mobistar, sources familiar with the situation said.
The firms are studying the company’s 52.9 percent stake in Mobistar, which is in an attractive sector for private equity at an achievable price, one of the people said.
The deal could value the company at more than 3 billion euros ($4.29 billion).
Mobistar shares rose after Reuters broke the news, reaching a new intra-day high of 52.35 euros.
Blackstone, KKR and France Telecom declined to comment. Mobistar was not immediately available for comment.
(By Victoria Howley and Simon Meads; Additional reporting by Leila Abboud in Paris and Robert-Jan Bartunek in Brussels, Editing by Douwe Miedema)