Take-privates move within reach

22 May 2020 - 12:00 am UTC

The history of infra investors acquiring publicly listed companies is a short one, but research by Inframation suggests there is much more still to be written. The recent share price premiums paid for telecoms and utilities should point the way, report Colin Leopold and Pablo Martinez 


For almost 10 years, Macquarie’s EUR 1.48bn acquisition of German submetering business Techem dominated the infrastructure space as the sector’s only major take-private.

Last week, it was reported (and later denied) that Macquarie had entered discussions to acquire BT’s network division Openreach – legally separate but fully owned by the former state telecom. But this time around, the Australian infrastructure investor is not the only one reportedly looking through the world’s major stock exchanges for acquisition targets.

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