April 30 (Reuters) - Abu Dhabi-based Emirates
Telecommunications is considering an acquisition of
European cable and pay-TV operator United Group at a valuation
of around 8 billion euros ($8.6 billion), Bloomberg News
reported on Tuesday.
Private equity firm BC Partners in September last year
bought a majority ownership of United Group from private equity
firm KKR. KKR, however, retained a substantial minority
stake.
BC Partners now plans to kick off a formal sale process for
United Group next month, the Bloomberg report added, citing
people familiar with the matter.
United Group did not immediately respond to a Reuters
request for comment. Emirates Telecommunications couldn't be
reached outside business hours.
($1 = 0.9364 euros)