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UAE's e& seeks to buy $8.6 bln European carrier United Group, Bloomberg reports
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UAE's e& seeks to buy $8.6 bln European carrier United Group, Bloomberg reports
Apr 30, 2024 10:41 AM

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)

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