Apax nears deal to buy Warburg’s Odido stake: Report

Private equity group Apax is nearing a deal to buy Warburg Pincus out of their joint investment in Dutch telecoms group Odido, The Financial Times reported on Saturday.

The deal would value Odido at about €6.5 billion ($7.4 billion), the FT reported, citing people familiar with the matter

In February, Odido, owned by Apax and Warburg Pincus, postponed plans for an initial public offering in Amsterdam after muted response from investors and concern over the extent of volatility in global equity markets