KKR eyes UK’s mobile operator Everything Everywhere for £8 bn
18 Jun 2012
Global investment firm Kohlberg Kravis Roberts & Co LP (KKR) is said to be in preliminary talks to buy UK's largest mobile operator Everything Everywhere Ltd (EE), the company formed through the merger of Orange UK and T-Mobile UK, for approximately £8 billion, The Telegraph reported Sunday.
The US private equity firm is holding talks with EE's parent companies France Telecom and Deutsche Telekom, hoping for a potential takeover. The negotiations are led by ex-chief of EE Tom Alexander who left the company in last July.
Former Vodafone chief executive Arun Sarin, who is one of KKR's senior advisers, has also been involved in the discussions for the potential takeover of EE, the report said.
London-based EE was formed as a 50:50 joint venture by France Telecom and Deutsche Telekom in 2010. The company has an overall customer base of 27 million and a market share of around 37 per cent.
EE employs more than 15,000 people and operates over 720 retail stores across the UK. In addition to London, it has main offices in Bristol and Hatfield.
Citing a close source, The Telegraph reported of Alexander's move as ''pretty audacious'' and further stated: ''Tom is extremely competent at retiring and he's extremely competent at coming back.''
