Southeast European pay TV operator United Group BV submitted a rival offer for Greek telecom operator Forthnet SA, Ekathimerini reported March 25.
The BC Partners-backed company's offer matches that of Duet Private Equity Ltd., which proposed a €41 million deal to acquire Forthnet's loans worth €310 million. Duet's offer comes with a convertible bond that would allow it to take control of up to nearly 40% of Forthnet's share capital.
United Group recently purchased Tele2 AB's Croatian business Tele2 doo and is also set to acquire Bulgarian operator Vivacom.
Private equity firm BC Partners bought a majority stake in United Group for €2.6 billion.