Deal Tracker: Europe books second-lowest media, telco M&A value YTD in June

M&A activity in the European media and telecom sector slowed month over month in June.

The sector recorded 61 deals amounting to $1.55 billion in aggregate transaction value in June, the second-lowest monthly total so far this year, according to S&P Global Market Intelligence data. There were 68 deals announced in May totaling $12.11 billion.

Mexico-based Grupo Financiero Inbursa SAB de CV's $508.9 million acquisition of a 3.2% stake in British telco BT Group PLC emerged as the largest deal in June. It was announced and completed June 12.

Grupo Financiero Inbursa is owned by Mexican businessman and investor Carlos Slim. Slim's family controls Latin American telecom firm América Móvil SAB de CV.

The second-largest deal of the month involved KKR & Co. Inc. unit Optics BidCo SpA's agreement with Fastweb SpA to purchase the latter's 4.5% stake in Telecom Italia SpA-owned FiberCop for $477.4 million. The transaction is subject to the completion of NetCo's sale to KKR.

Telecom Italia said it closed the sale of NetCo to KKR in early July.

– Read about the European media and telecom sector's M&A deals in April. – Use our Transactions Statistics page to run a custom screen of M&A by industry or geography.

The $326.0 million sale of Vivendi SE's festival and international ticketing activities to CTS Eventim AG & Co. KGaA, a Germany-based ticketing and live entertainment company, was the third-largest deal struck in June. The acquisition was completed June 6, two months after the companies signed a put option agreement on April 2.

Atlas LuxCo 4 S.à r.l.'s $10.64 billion bid to acquire a 70.82% stake in Luxembourg-based operator Millicom International Cellular SA, announced in May, emerged as the sector's biggest M&A deal year-to-date.

Millicom announced July 15 that an independent board committee unanimously recommended that shareholders and holders of special drawing rights refuse Atlas' public cash offers as they undervalue the company.