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

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. 

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

• 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

• In the same week, the Dutch telecoms group suffered a cyberattack that exposed personal information from more than 6 million accounts

• The owners have since received approaches for the business from suitors including Saudi Arabian state-backed telecoms group STC, the FT reported

• Apax, Odido and Warburg Pincus declined to comment. STC did not respond to Reuters' requests for comment outside regular business hours

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

($1 = 0.8779 euros)

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