KKR to take on Providence for Australian fibre optic network NextGen
US private equity giant KKR has decided to take on rival firm Providence Equity Partners in the auction for Leighton Holdings’ Australian fibre-optic network NextGen, it is understood.
Reuters reported the development citing a source familiar with the process.
It previously said the business, which is owned by Spain’s ACS, could fetch as much as A$870m ($910m).
ACS is attempting to sell off the asset as well as smaller data businesses Metronode and Infoplex in order to pay down debt.
Australian telecommunications firm TPG Telecom is also a likely bidder for the asset, Reuters added.
Last month Providence and Apax Partners were linked with a deal for French media company Vivendi’s Brazilian broadband business GVT, a deal which could top €6bn.
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