Apax Nears Deal to Buy Odido Stake
Private equity group Apax is nearing an agreement to buy Warburg Pincus out of their joint investment in Dutch telecoms firm Odido. The potential transaction values the business at approximately 6.5 billion euros following a shelved IPO.
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Private equity firm Apax is nearing an agreement to acquire Warburg Pincus' stake in Netherlands-based telecoms operator Odido for about €6.5 billion ($7.4 billion), according to people familiar with the matter.
The transaction follows a shelved IPO in February due to market volatility and a cyberattack exposing data from over 6 million accounts. Suitors including SAUDI TELECOM CO also approached the owners of the Saudi Arabia-backed interest.
