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KKR exits German fibre operator Versatel

3 Sep 2014

versatelPrivate equity firm KKR has exited its investment in German fibre operator Versatel, which was sold to United Internet.

The European internet services company has bought a 74.9 per cent stake from KKR, which invested in Versatel in July 2011, to take its shareholding to 100 per cent. Versatel was valued at €1.25bn in the deal.

Head of KKR Europe’s technology & telecommunications team Henrik Kraft said, “Our investment in Versatel has been driven by the conviction that the data revolution creates a large structural investment opportunity.

“The demand in bandwidth for business-to-business purposes and the need to connect mobile base stations with fibre are growing rapidly. Based on that conviction, we have built Versatel’s unique and dense fibre network, with a presence in 19 of the 25 largest German cities.”

In the meantime, head of KKR’s Indian operations Heramb Hajarnavis has stepped down after four years with firm.

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