Private-equity groups submit bid for KDG

Private-equity companies BC Partners and CVC Capital Partners have jointly submitted an offer for German cable operator Kabel Deutschland (KDG), according to a report in the Financial Times newspaper.

KDG’s current owner, Providence Equity Partners, could receive €5.5bn for the operator if it opts to sell. However, the private-equity group reportedly could prefer to launch a €1bn initial public offering.

Other private-equity groups including Carlyle Group and Advent International are also reported to be interested in submitting a bid.