Reuters: Private Equity: Telenet reviews joint bid for KPN's BASE-sources

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Telenet reviews joint bid for KPN's BASE-sources May 22nd 2012, 16:58 By Sophie Sassard and Victoria Howley Tue May 22, 2012 12:58pm EDT May 22 (Reuters) - Belgium's largest cable operator Telenet is talking to private equity firms about making a joint bid for BASE, the country's third mobile phone company, people familiar with the process told Reuters. Blackstone, Cinven, Providence, Bain and KKR are among the possible partners, the people said. Dutch telecom group KPN could raise between 1.6 billion and 1.8 billion euros from the sale of BASE, the people added. KPN is weighing a sale of the Belgian business at the same time as it seeks ways to counter America Movil's tender offer for 28 percent of its shares, which it sees as undervalued. KPN was not immediately available for comment.

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