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BT hires Credit Suisse to sell Spanish unit - report

Jul. 08, 2019 12:11 PM ETVOD, BT, ORAN, TEFBy: Jason Aycock, SA News Editor3 Comments
  • BT Group (BT -0.3%) has hired Credit Suisse as part of its effort to sell its Spanish operation BT España, Expansion reports.
  • Credit Suisse has distributed its notebook and its waiting for first formal expressions of interest, according to the report.
  • The unit is looking to draw buyers from a pool that includes investment funds and Euskaltel; larger companies like Telefonica (TEF -0.5%), Vodafone (VOD -0.8%) and Orange (ORAN -0.6%) are not expected to bid, preferring to use their own networks for organic growth.
  • It could be valued at €250M-€300M, according to the report.

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