Dering Capital in advanced talks to buy TDF


telecom tower 2_sqPrivate equity firm Dering Capital is reportedly in advanced talks to acquire French broadcasting masts operator TDF.

The firm is the only remaining suitors after Canadian pension fund PSP Investments ended its pursuit of the company, according to Les Echos.

“Faced with the inflexibility of its shareholders on the expected consideration of €4bn, PSP withdrew from the process,”, said les Echoes, adding that “the Dering placing funds (are now) in a strong position to demand a price reduction.”

Back in October Reuters reported that Dering had submitted a slightly higher first round bid of around €3.6bn than PSP’s consortium.

In September it was  reported that TDF asked bidders to submit binding offers by early November with a view to close the deal in the first quarter of 2014.

The company reportedly plans to sell its German business after disposing of the French unit.

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