Buyout companies have intensified their efforts to secure funding for possible GBP 10 billion bids for UK mobile network group EE, reports the Financial Times citing unnamed sources familiar with the talks. One group formed by KKR and Apax, and another led by CVC Capital Partners and Blackstone, are working on rival offers, according to the sources. These bids would involve them using around GBP 3 billion of their own equity to fund a bid and raising up to GBP 7 billion from lenders. The bidders are said to be working on plans that would allow EE parent companies Deutsche Telekom and France Telecom to retain a stake of around 15-20 percent.
