Apax Global Alpha Share News (APAX)

(Sharecast News) - Apax Global Alpha said on Wednesday that the Apax X Fund had signed, in consortium with Warburg Pincus, a definitive agreement to acquire T-Mobile Netherlands.
The FTSE 250 company said the transaction remained subject to customary closing conditions, including consultation with employee representatives, and regulatory approvals.

On a look-through basis, Apax was expecting to invest around €22m in T-Mobile.

"T-Mobile, which operates four brands - T-Mobile, Tele2, Ben, and Simpel - is a leading European telecommunications operator," the board said in its statement.

"Under the current management team, the company has become the leading mobile network operator in the Netherlands and the first to offer unlimited and nationwide 5G, as well as becoming the fastest growing operator in the fixed broadband market serving around 700,000 broadband customers at the end of the second quarter.

Under the new ownership, T-Mobile would become an independent Dutch company, and Apax and Warburg Pincus would look to partner with the management team to support the company.

At 0905 BST, shares in Apax Global Alpha were down 0.46% at 216p.