MADRID, June 4 (Reuters) - The board of French telecoms
giant Orange could discuss a possible counterbid for
Spanish rival MasMovil this week, El Economista
newspaper reported on Thursday, citing unidentified industry
sources.
The Orange board could meet as early as Thursday, the
newspaper said, after an alliance of buyout funds KKR,
Cinven and Providence this week said they had made a 2.96
billion euro ($3.3 billion) offer backed by the Spanish
company's board.
A spokesman for Orange did not reply immediately to a
Reuters request for comment.
Since the announcement on Monday, MasMovil shares have
traded above the 22.50 euros the funds offered, suggesting that
investors expect higher rival bids or an increased offer from
the the private equity trio.
(Reporting by Inti Landauro
Editing by David Goodman)