Apax seeks to acquire Warburg’s stake in Odido
The possible transaction would value the Dutch telecoms provider at around €6.5 billion.
Investment firm Apax is close to an agreement to acquire co-owner Warburg Pincus’s stake in telecoms company Odido. Reuters reports this, citing the Financial Times; Odido and the investors have not confirmed the report.
Apax and Warburg Pincus jointly bought the Dutch telecoms operations from Deutsche Telekom and Tele2 in 2021, then still operating under the name T-Mobile Nederland. The acquisition was completed in March 2022. The company has operated under the name Odido since 2023 and also owns brands including Ben and Simpel.
According to Reuters, the possible transaction would value Odido at around €6.5 billion. The report is based on sources familiar with the talks. A definitive agreement, the price and the terms have therefore not yet been publicly established.
The possible deal would change the ownership structure of a major Dutch telecoms provider. Odido supplies mobile telephony, fixed internet services and television, and competes with KPN and VodafoneZiggo, among others. The sources give no indication that anything will change in the short term regarding subscriptions, networks or consumer terms.
For Apax, full control would bring an end to the joint ownership structure with Warburg Pincus. For Warburg, a sale would be a way to realise its investment. On the basis of the public information, it cannot be established whether Apax intends to relist the company or sell it to another buyer at a later stage.
Odido previously postponed a planned stock-market listing, Reuters reports. The market for telecoms companies is influenced by high investment in networks, competition for customers and oversight of digital infrastructure. An acquisition does not automatically change those market conditions, but it could influence the owner’s strategic choices.
The reports also come after a period in which Odido faced regulatory scrutiny and an investigation concerning a major data breach. That case is separate from the possible change of ownership; the ACM previously said it was investigating the security and handling of data together with other regulators.
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This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The core is accurately presented as a possible transaction, not a completed acquisition. The valuation and postponed stock-market listing are clearly attributed to Reuters reporting; the operational consequences are described as uncertain or not established.
- confirmed Apax is negotiating the acquisition of Warburg Pincus’s stake in Odido. — Reuters reports this, citing the Financial Times, and says that the parties involved did not respond. source
- confirmed The possible transaction would value Odido at around €6.5 billion. — Reuters attributes this figure to Financial Times sources. source
- confirmed Apax and Warburg Pincus jointly bought T-Mobile Nederland, and the transaction was completed in March 2022. — Confirmed in Odido’s press release. source
- confirmed Odido supplies mobile telephony, fixed internet services and television. — This follows from the company description and Odido’s publicly available services; the source on the ownership transfer describes the company as a telecoms provider. source
- confirmed The ACM is investigating the data breach at Odido together with other regulators. — Reported by the ACM in its July 2026 publication. source
Editor's note
The possible acquisition and the stated valuation are based on Reuters reporting citing anonymous sources at the Financial Times. No definitive agreement or official confirmation from Odido, Apax or Warburg Pincus was found.Sources
- Apax nears deal to buy Warburg’s Odido stake, FT reports — Reuters via MarketScreener
- Volgens Financial Times staat Apax op het punt belang Warburg in Odido over te nemen — Reuters via Boursorama
- Overname van T-Mobile Nederland door Warburg Pincus en Apax Funds is afgerond — Odido
- ACM joins investigations into the data breach at Dutch telecom operator Odido — Autoriteit Consument & Markt