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Private equity firms preparing KDG bid

A group of private-equity firms, including CVC Capital Partners and Carlyle, are preparing a bid for German cable operator Kabel Deutschland, according to the Financial Times.

The consortium is set to make a €5bn offer for the Providence Equity Partners-owned operator, with banks already agreeing to provide between €3.5bn and €4bn of credit. The newspaper reports that buyout firms Advent International and BC Partners are also mulling a bid for the operator.