July 6 Private equity firm 3i Group Plc
is considering a sale or initial public offering of its Finish
telecommunication unit, Eltel Networks, in a deal that may value
it about 1 billion euros ($1.4 billion) including debt,
Bloomberg reported on Sunday.
Morgan Stanley and French bank BNP Paribas SA
were advising on the sale, but no final decision had
been made, the news agency reported, quoting two people with
knowledge of the matter.
3i bought the Espoo, Finland-headquartered electricity and
telecommunications network maintenance firm from Industri
Kapital, TeliaSonera and Eltel management in 2007. (reut.rs/VvJcmH)
Funds managed by 3i hold 69.4 percent of Eltel, while BNP
Paribas holds 29.5 percent and management holds 1.1 percent,
according the company's annual report.
Neither of the parties involved could immediately be reached
for a comment outside of regular business hours.
($1 = 0.7331 euros)
(Reporting by Esha Vaish in Bangalore; Editing by Marguerita