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MBK Partners Weighs Rival Bid for Chinese Data Center Firm Vnet, Sources Say

  • Buyout firm in talks with other funds on joint Vnet offer
  • Blackstone-backed Vnet has drawn interest from industry peers
Updated on

MBK Partners is considering making a bid for Chinese data center company Vnet Group Inc., according to people familiar with the matter, potentially kicking off a battle with another private equity firm.

The North Asia-focused investor is in talks to team up with a partner on a joint offer for New York-listed Vnet, the people said, asking not to be identified because the matter is private. A bid from an MBK-led group would compete with boutique Chinese advisory and private equity firm Hina Group and the Shanghai branch of Industrial Bank Co., which in April submitted a non-binding cash takeover proposal to acquire Vnet’s shares for $8 per American depositary receipt. The offer would value the company at about $1.1 billion, according to Bloomberg calculations.