EQT, Tillman lining up rival bids for stake in French towers firm TDF

LONDON: EQT and Tillman Infrastructure are vying to buy Brookfield’s 45% stake in French towers firm TDF – a business worth about 7 billion euros ($6.8 billion) excluding debt, three sources familiar with the matter told Reuters.

The two investment firms are carrying out due diligence on the company and are expected to submit rival bids in November to replace Brookfield as TDF’s single largest investor, the sources said, speaking on condition of anonymity.

Stockholm-listed EQT and New York-based Tillman are the only bidders in the process, while TDF’s former owner Orange is not interested in re-investing in the French firm through its towers unit Totem, the sources said.