Private equity firms buy GTS Central Europe

A group of four private equity firms have teamed up to acquire wholesale and business services carrier GTS Central Europe for an undisclosed sum. The company has networks in several Eastern European countries with high growth potential. The deal comes not long after Russia's Vimpelcom announced its acquisition of Golden Telecom, and other carriers in the region are said to be looking for buyers or investments.

This acquisition also plays right into my supposedly bold prediction that we would witness at least one private equity-led buyout of an international carrier in 2008. I guess it would have been bolder to say 10 instead of one.

For more:
- see this story in Light Reading Europe

Related articles:
- Vimpelcom announced the Golden Telecom acquisition just before the holidays