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Apax nears deal for stake in Odido

Apax was close to buying Warburg Pincus out of Dutch telecommunications group Odido, which was valued at €6.5 billion, the Financial Times reported. The prospective purchase followed the owners' decision to abandon a planned stock-market listing because of unstable market conditions. The RSS report did not disclose the proposed stake price.

Why it matters

The transaction would provide a private exit after volatile markets closed off Odido's planned public listing.

Sources

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