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Telecom group DNA to decide between buyout and IPO in summer

11 Jul 2013

telecom tower 2_sqFinnish telecommunications group DNA, which is reportedly in takeover talks with private equity firms, said that it is considering an IPO.

Apax, Bain Capital, EQT and Providence Equity Partners have already submitted final bids for DNA, which could be valued at €1.3bn, said Reuters, citing banking sources.

The company today said that it will decide this summer whether to continue negotiations with the buyout firms or opt for a float on the Helsinki Stock Exchange instead.

The company said, “During the summer it will be clear whether the owners of DNA will continue talks with private equity firms, or if the company will proceed with listing in the autumn or if the current ownership will prevail.”

UBS, which is running the sales process, has arranged financing of close to €1bn of five times the company’s 2012 €191m EBITDA, according to the report.

DNA’s largest shareholder is Finda Group, which holds a 33 per cent stake.

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