KKR, TPG consider AsiaInfo bid – report

Sources with direct knowledge of the matter told Reuters that the transaction could be worth more than $1 billion. The private equity firms are looking at the possibility of a joint bid with CITIC Capital as well as acting independently. Meanwhile, Amdocs, Oracle, IBM and Ericsson are among those said to be interested in AsiaInfo's billing software.

The company, which counts China Mobile, China Unicom and China Telecom among its customers, has seen its market capitalization rise from $714 million to more than $800 million on news of a potential transaction. However, its stock price has fallen about 44% over the past 12 months as a result of accounting scandals involving several US-listed Chinese firms that have hit the entire sector.

Short-sellers and hedge funds are scrutinizing companies' financial statements, searching for weaknesses, while private equity firms have been searching for potential take-private opportunities. These are often transacted in collaboration with management with a view to relisting the companies in Asia.

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• Topics
• Buyouts
• Greater China
• North America
• Technology
• KKR
• TPG Capital
• CITIC Capital Partners
• China
• USA
• buyout