Apax Partners and Texas Pacific Group agreed to acquire Greek wireless operator Q-Telecom for $424.8 million. The companies will pay $394.5 million in cash and assume the other $30.4 million in debt. The deal was led by TPG partner Philippe Costeletos, who sees considerable potential in the Greek market and economy. Back in June, Apax and TPG paid $1.3 billion for 81 percent of another Greek wireless carrier, TIM Hellas. Now that both Q-Telecom and TIM Hellas could be controlled by Apax and TPG, it seems likely that a merger is on the horizon.
For more on the Q-Telecom deal:
- check out this article from Red Herring