CVC consortium not planning to bid for Network International

By Sharecast News

Sharecast News | 12 Jun, 2023

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CVC Advisers and Francisco Partners Management said on Monday that they do not plan to make an offer for payments firm Network International.

Network announced in mid-April that it had received a preliminary and conditional proposal from the consortium about a possible takeover offer.

However, later that month the firm said it had received a highly preliminary rival 400p a share cash offer from Canada’s Brookfield Asset Management and last Friday, Network agreed to be taken over by Brookfield in a £2.2bn deal.

CVC consortium not planning to bid for Network International

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