Warburg Pincus, a private U.S. equity firm, is seeking to bid on Deutsche Telekom’s T-Mobile Netherlands business, Reuters reported.
According to the report, Warburg Pincus joins at least four others in competition for the division, which is worth around $3.2 billion. Two other private equity firms, Apax and CVC, are in the running, the report said.
At the end of October, Reuters reported Deutsche Telekom was looking at options for the future of T-Mobile Netherlands – including a sale, asset swap or stake sale – as part of a bid to become a packaged service provider. The unit is currently one of Deutsche Telekom’s few remaining wireless-only operations and is situated in a highly competitive market.
Sources told Reuters Credit Suisse has been hired to advise Deutsche Telekom on the process.
Non-binding offers for the division are expected to be submitted by Nov. 16, Reuters said.