Bidders circle Energis

Could raise £700m

Broken CD with wrench

Some half a dozen outfits are preparing to make their bids for ailing alternative carrier, Energis, according to news reports.

Reuters</> claims that Energis wants to receive the bids for its business by next week in a move that could net the company more than £700 million, although previous reports claim the figure could even be as high as £1 billion.

Speculation surfaced a couple of months ago that Energis was on the hunt for a buyer after it warned that it faced a difficult financial future amid a slump in the telecoms market.

Financial institutions including Carlye Group, Kohlberg Kravis & Roberts and Apax Partners, among others, have all been link with a possible bid.

A spokesperson for Energis declined to comment on today's report even though Energis said back in February that it intended to sell its European operations.

Last week Energis plc pulled the financial plug on its Swiss operation expecting but confirmed that it was still holding discussions with potential buyers of its businesses in Germany (Energis Ision) and The Netherlands (Energis NV). ®

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