Apax nears deal to buy Warburg's Odido stake, FT reports

By Reuters News

Sept 26 (Reuters) - Private equity group Apax is nearing a deal to buy Warburg Pincus out of their joint investment in Dutch telecoms group Odido, The Financial Times reported on Saturday.

Here are some details:

  • The deal would value Odido at about €6.5 billion ($7.4 billion), the FT reported, citing people familiar with the matter

  • In February, Odido, owned by Apax and Warburg Pincus, postponed plans for an initial public offering in Amsterdam after muted response from investors and concern over the extent of volatility in global equity markets

  • In the same week, the Dutch telecoms group suffered a cyberattack that exposed personal information from more than six million accounts

  • The owners have since received approaches for the business from suitors including Saudi Arabia state-backed telecoms group STC, the FT reported

  • Apax, Warburg, Odido and STC did not respond to Reuters' requests for comment outside regular business hours

  • Apax and Warburg acquired the business under its previous name T-Mobile Netherlands in 2021 at an enterprise value of €5.1 billion

($1 = 0.8779 euros)

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