Financial investor KKR wants to acquire German telecommunications company Versatel. KKR subsidiary Victorian Fibre Holding intends to place a public purchase offer for all remaining shares, Versatel announced in Düsseldorf.

Versatel's main shareholders - Apax Partners, Cyrte Investments and United Internet -, which jointly own around 92% of the shares, have already agreed with KKR to sell their stakes for €5.50 per share.

KKR offers the remaining shareholders the average price of Versatel's listed stock of the past 3 months, but at least €6.70 per share.

"We welcome KKR's interest in Versatel and are pleased that KKR is convinced of the strategy the company is pursuing," said Alain D. Bandle, CEO of Versatel. The take-over will be completed in the second half of 2011, provided that the German cartel office will approve the deal.

Versatel, which reached a turnover of €725 million in 2010, offers internet and telephony services through its own ADSL network for business and private customers as well as resellers. The cable TV business was sold in June 2010 to financial investor Chequers Capital