European Fiber Carrier Hires Financial Advisers to Explore $2 Billion Sale
- Credit Suisse, Evercore helping U.K. company to find a buyer
- Interoute owns one of the largest pan-European fiber networks
Fiber optic cables are connected to a server at Telefonos de Mexico SAB (Telmex) headquarters in Mexico City, Mexico, on Saturday, April 5, 2014. Telcel's Digital Village event, hosted by Telmex and Telcel, and powered by Infinitum, is free and open to the public from April 11 to April 27. Telmex plans to install more than 125 kilometers of fiber optic cable to create a network in the Zocalo where attendees can participate in a wide variety of activities consisting of courses, workshops, conferences, contests and IT project incubation.
Photographer: Susana Gonzalez/BloombergInteroute Communications Ltd, a pan-European fiber carrier and cloud-services operator controlled by the Sandoz Family Foundation, has hired financial advisers to evaluate a sale, according to people with knowledge of the matter.
Interoute is working with Credit Suisse and Evercore Inc. to explore a deal dubbed "Project Nitro," said the people, asking not to be identified because the talks are private. The London-based company could be valued in a range of seven to 10 times earnings before interest, tax, depreciation and amortization, or as much as 1.65 billion euros ($1.95 billion), the people said.