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Deutsche Telekom’s Scout24 unit draws interest from buyout firms

8 Jul 2013

german flag 2_sqPrivate equity firms including Silver Lake, Apax and KKR reportedly have expressed interest in Deutsche Telekom’s German cars-to-real estate internet portal Scout24.

The German telecoms group is selling a 30 per cent stake in the business, which could be valued a total €1.5bn, said the FT, citing five people with knowledge of the process.

Buyout firms Silver Lake, KKR, Apax, EQT, Hellman & Friedman and Axel Springer Digital Classifieds, a joint venture between General Atlantic and Axel Springer, are believed to be bidding for Scout24, said the sources. Axel Springer appears to be the frontrunner for the business and is likely to make a bid for the entire unit, the people added.

Deutsche Telekom has shortlisted five bids following a pre-qualifying round that did not include indicative offers.

The bidders are due to submit their offers at the end of the month.

Late last year private equity firm Blackstone reduced its stake in Deutsche Telekom by selling 65.2 million shares in the business.

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