Apax agrees to buy Warburg Pincus's Odido stake for full control

Apax Partners has agreed to buy Warburg Pincus's stake in Odido Netherlands Holding B.V., giving it full ownership of the Dutch telecom operator, according to Data Center Dynamics.

Apax disclosed no price and no completion date; the firm said the deal requires regulatory approval.

Odido, formerly T-Mobile Netherlands, serves around eight million subscribers and has been owned by Apax and Warburg Pincus since 2022. They bought the business from Deutsche Telekom and Tele2.

Since then, the company has been building fiber across the Netherlands and rolling out 5G, and Data Center Dynamics describes the network as the largest in the country.

Gabriele Cipparrone, partner at Apax, said the firm knows Odido "intimately" and has "high conviction in its future growth," describing it as a standalone operator with a clear customer focus.

He added that Apax would keep backing management and "supporting ongoing investment in its network, its security, and its service to customers across the Netherlands."

Max Fowinkel, Warburg Pincus's head of European technology and telecommunications, credited the company with having "successfully separated from Deutsche Telekom" and modernized its nationwide 5G network. He also said the company launched a distinctive new brand with Apax and management.