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Retelit Owner Asterion Makes Binding Offer for Italy Telecom Irideos

  • Asterion’s offer could value Irideos at up to $429 million
  • Network, service provider has binding offers from two others

The Spanish owner of Italian telecommunications company Retelit SpA is among the bidders for network and service provider Irideos SpA, according to people familiar with the matter.

Madrid-based Asterion Industrial Partners, Retelit’s private equity owner, submitted a binding offer last week for Irideos that could value it at as much as 400 million euros ($429 million), the people said, asking not to be identified because the discussions are private. Irideos, based in Milan, also has received binding offers from two other investment firms, the people said.