American venture capital fund Apollo Global Management is preparing a bid together with local fund JB Capital for telecom company Vodafone’s Spanish operations. That’s what Expansion newspaper writes with reference to sources. The information about the potential bid comes three weeks after British Zegona said they are in talks with Vodafone about buying the Spanish business.
Expansion estimates that the business could be worth up to 5 billion euros, corresponding to 55.1 billion kroner. Vodafone has previously said that they will review the Spanish business. The company is one of the three largest operators in Spain along with Telefonica and Orange.
The latter is about to merge with MasMovil, which is the fourth largest operator. A spokesperson for Vodafone declined to comment.