Venture Capital Funds have put in offers of up to €3.7 billion for Vodafone’s Spanish subsidiary.
According to El Economista, quoting a report by Bloomberg, they include Apollo Global Management, though no formal process for a sale has yet got under way.
Significantly, El Economista goes on to say that the offers appear to fall short of the estimated value of the unit, which has quarterly revenues of €971 million.
Vodafone has previously insisted that its Spanish operation, which is part of a recently created cluster of the group’s European assets, is not for sale.
