Benzinga | Jul 2, 2021 03:12PM EDT

Deutsche Telekom Initiates $5.3B Sale Of Dutch Subsidiary: Bloomberg

* Deutsche Telekom AG (OTC: DTEGF) (OTC: DTEGY) has initiated the sale of its T-Mobile Netherlands BV subsidiary at a potential valuation of $5.3 billion, Bloomberg reports.

* It sought for first-round offers to be submitted this month. The sale has attracted preliminary interest from potential bidders, including Apax Partners, Apollo Global Management Inc., BC Partners, Providence Equity Partners, and Warburg Pincus.

* In 2000, Deutsche Telekom acquired a stake in a venture with Belgacom SA and Tele Danmark. The business was renamed T-Mobile Netherlands in 2003 after the German carrier acquired the remaining stake.

* In 2019, T-Mobile Netherlands merged with Tele2 AB's operations.

* In May, Tele2's CEO Kjell Johnsen confirmed its plan to sell its 25% holding in T-Mobile Netherlands and focus on its core markets in the Nordics and Baltics.

* Price action: DTEGY shares traded higher by 0.79% at $21.40 on the last check Friday.