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Finance

Apax nears deal to buy Warburg Pincus' Odido stake, FT reports

Published by Global Banking & Finance Review

Posted on September 26, 2026

2 min read

· Last updated: September 26, 2026

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Apax Nears €6.5 Billion Deal to Acquire Warburg Pincus' Odido Stake

Key Developments in the Apax-Odido Acquisition

Sept 26 (Reuters) - Private equity group Apax is nearing a deal to buy Warburg Pincus out of their joint investment in Dutch telecoms group Odido, the Financial Times reported on Saturday. 

Deal Valuation and Financial Details

Here are some details:

  • The deal would value Odido at about €6.5 billion ($7.4 billion), the FT reported, citing people familiar with the matter

Background on Odido's IPO Plans

  • In February, Odido, owned by Apax and Warburg Pincus, postponed plans for an initial public offering in Amsterdam after a muted response from investors and concern over the extent of volatility in global equity markets
Cybersecurity Incident Impact
  • In the same week, the Dutch telecoms group suffered a cyberattack that exposed personal information from more than 6 million accounts

Acquisition Interest from Other Suitors

  • The owners have since received approaches for the business from suitors including Saudi Arabian state-backed telecoms group STC, the FT reported
Responses from Stakeholders
  • Apax, Odido and Warburg Pincus declined to comment. STC did not respond to Reuters' requests for comment outside regular business hours

History of Ownership and Previous Transactions

  • Apax and Warburg Pincus acquired the business under its previous name T-Mobile Netherlands in 2021 at an enterprise value of €5.1 billion

Currency Exchange Rate

($1 = 0.8779 euros)

Reporting Credits

(Reporting by Devika Nair in Bengaluru; Editing by Christopher Cushing, Kirsten Donovan and Alexander Smith)

Key Takeaways

  • The proposed deal would value Odido at about €6.5 billion ($7.4 billion), up from its 2021 acquisition value of €5.1 billion (marketscreener.com)
  • Odido postponed its IPO in Amsterdam in February 2026 following a tepid investor response and heightened market volatility; the same week it also suffered a cyberattack exposing personal data of over 6 million accounts (marketscreener.com)
  • Since then, suitors including Saudi state-backed STC have approached, but Apax is now nearing a deal to take full control; Odido, Apax and Warburg Pincus declined comment (marketscreener.com)

References

Frequently Asked Questions

What is the reported value of Odido in the Apax-Warburg Pincus deal?
The deal would reportedly value Dutch telecoms group Odido at about €6.5 billion.
Why did Odido postpone its initial public offering in Amsterdam?
Odido postponed its IPO due to a muted investor response and concerns about volatility in global equity markets.
Who currently owns Odido?
Odido is currently owned by Apax and Warburg Pincus.
What incident affected Odido the same week as the IPO postponement?
Odido suffered a cyberattack exposing personal information from more than 6 million accounts.
Which company expressed interest in acquiring Odido?
Saudi Arabian state-backed telecoms group STC reportedly showed interest in acquiring Odido.

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