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Deutsche Telekom considers bid for HEG - report

2016-06-16 17:05:00| Telecompaper Headlines

(Telecompaper) Deutsche Telekom is considering a bid for web hosting provider Host Europe Group (HEG) as it looks to expand its cloud business, reports Reuters. Telekom plans to use web hosting subsidiary Strato to acquire HEG and is looking to team with US private equity companies to finance the deal, according to unnamed sources. The investment firms examining a joint bid with Telekom reportedly include Blackstone and Hellman & Friedman. HEG is currently owned by private equity firm Cinven. Sources said that Cinven wants to launch a sales process before August and is targeting a valuation of around EUR 1.7 billion.

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