Chinese private equity house CITIC Capital is reportedly eyeing a $1.8bn buyout of telecoms business AsiaInfo Technologies.
CITIC is teaming up with AsiaInfo’s second-largest shareholder, China Mobile Communications Group, for the deal, according to a Reuters report that cited two unnamed sources.
It added that AsiaInfo’s largest shareholder, with a 23.4% stake, is in talks with banks to finance the deal.
CITIC’s offer would represent a roughly 30% premium on the company’s average share price over the past month.
The report cited CITIC as saying the information about its AsiaInfo takeover plans was inaccurate.
Last year CITIC hit a $2.8bn hard cap for the final close of CITIC Capital China Partners IV, its largest private equity fund to date.
It previously collected $1.5bn for the final close of Fund III in 2017.
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