Cinven ploughs in to battle for Auna

Cinven, the UK-based private equity group, is reported to have entered the takeover battle for Spanish telecommunications group Auna after joining a consortium bidding €12bn ($15.5bn) for the entire firm.

Cinven replaces The Blackstone Group, a US rival, in a consortium with CVC Capital Partners and Apax Partners. The two brought Cinven on board so they can continue work on their bid, Reuters reported.

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