Report: Blackstone Interested in Radio Shack

(Reuters) – U.S. private equity firm Blackstone Group LP (BX.N) has emerged as a leading participant to buy electronics retailer RadioShack Corp (RSH.N) after an initial round of bids were completed last week, the New York Post said, citing sources familiar with the matter.

On March 26, the newspaper reported that RadioShack is exploring alternatives including a share buyback or a possible sale of the company that could net more than $3 billion.

A Blackstone spokesman declined to comment to the paper.

RadioShack, which is looking to complete a deal this summer, “likely will settle for a bid in the $20s-per-share range,” a source familiar with the sale process told the newspaper.

Blackstone and RadioShack could not immediately be reached for comment by Reuters outside regular U.S. business hours.

Shares of RadioShack closed at $20.44 Friday on the New York Stock Exchange. The company has been the subject of takeover talk this year.

(Reporting by Sakthi Prasad in Bangalore; Editing by Andrew Callus)