July 29, 2020 / 6:40 PM / 8 days ago

Spain's market regulator approves private equity bid for MasMovil

FILE PHOTO: A balloon with the logo of Masmovil is seen during its bourse debut in Madrid, Spain, July 14, 2017. REUTERS/Juan Medina

MADRID (Reuters) - Spain’s stock market regulator gave the green light on Wednesday for a 3 billion euro (2.7 billion pounds) bid by three private equity funds for mobile telephone operator MasMovil (MASM.MC).

A consortium of buyout funds KKR (KKR.N), Cinven and Providence made the bid on June 1, backed by the board of the Spanish telecoms company.

Two small shareholders have objected publicly to the bid price, saying it is too low.

Reporting By Isla Binnie; Editing by Sonya Dowsett

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