Last week, UK-based transmission and teleport operator Arqiva pulled its IPO citing market volatility as the reason. Now it seems that a trade sale could be in the offing.
The Sunday Times reported that Australian investment bank Macquarie, which controls 25 per cent of Arqiva, could revisit a planned sale to Canadian conglomerate Brookfield.
Arqiva has been up for sale for at least 18 months, and Brookfield was the ‘last man standing’ amongst a slew of potential buyers, but the sale fell through because of uncertainties over Arqiva’s not inconsiderable debt obligations.
The report stated that Macquarie remained committed to an IPO once market conditions improved.