KPN gets first-round bids for German towers-sources
FRANKFURT Oct 2 (Reuters) - A first call for bids for the German cell phone towers of Dutch telecoms group KPN has drawn offers from strategic and financial investors, three people familiar with the process said.
Final bids for the sale, which is run by UBS, are due by the end of this month, two people said.
Sources familiar with KPN said the largest Dutch phone company hopes to fetch 300-400 million euros ($387-$516 million) for the assets.
"First bids are in and due diligence is being done," one of the people said.
According to this person, private equity firms EQT, KKR as well as French television network operator TDF Group and Antin Infrastructure Partners are still in the race.
Another person said Australian investment bank Macquarie had also shown interest but has pulled out of the process.
EQT, TDF, KRR and KPN declined to comment.