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(Telecompaper) A consortium of three buyout funds are preparing a joint bid for Spanish telecommunications provider Masmovil, the country’s fourth largest network operator, according to unnamed sources cited by El Confidencial. KKR, Cinven and existing shareholder Providence are finalising a takeover proposal that values the company’s shares at around EUR 23, some 25 percent more than their current price and equivalent to an overall business value of just over EUR 3 billion, said the report, adding that the takeover bid is mainly aimed at minority investors, which account for around 60 percent of the capital.
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