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01/10/2007 - D.Telekom may close M&B sale next week – source
DUESSELDORF, Germany, Sept 28 (Reuters) - Deutsche Telekom (DTEGn.DE: Quote, Profile, Research) is about to close the sale of Media & Broadcast, a unit of its business clients division T-Systems, a source familiar with the matter said on Friday.
Offers for the division were submitted on Monday, the person told Reuters, adding that the two remaining bidders were Australian Bank Macquarie (MBL.AX: Quote, Profile, Research) and French infrastructure provider TDF, which is majority owned by Texas Pacific Group [TPG.UL], Axa Private Equity (AXAF.PA: Quote, Profile, Research) and Charterhouse.
A decision is expected soon, possibly at the start of next week, the person said.
Media & Broadcast provides services for broadcasters and other media organisations.
Contrary to some media reports, other sources familiar with the situation said the sale of Media & Broadcast was not linked to the sale of its radio towers. The sale of the towers had not progressed as far, they said.
Interested parties have offered between 700 million euros($993 million) and 800 million euros for Media & Broadcast, the sources said. The unit generates annual sales of around 500 million euros.
At the beginning of this year a German magazine had said Deutsche Telekom hoped to reap up to 1 billion euros from the sale of the business.
Deutsche Telekom declined to comment.
Europe's biggest telecoms group by sales has said it wants to pursue growth through acquisitions in the mobile communications sector outside Germany while disposing of non-core assets.
http://investing.reuters.co.uk/news/articleinvesting.aspx?type=media&storyID=nL28820764
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