Vnet Group Inc. (NASDAQ: VNET) has risen 14% during premarket trading following reports which claim that MBK Partners is considering making an offer to purchase VNET Group Inc. Chinese data centre firm.
MBK Partners is in discussions with a potential partner to submit an offer to purchase Vnet ( VNET) According to a news report from Bloomberg that cited sources who are familiar with it. Blackstone ( BX)-backed Vnet is also believed to have sparked the attention of other fund managers within the field.
A bid by an MBK-led firm will be competing with bids by Chinese Private equity company Hina Group and the Shanghai Branch of Industrial Bank Co. The latter in April offered an offer that was a non-binding offer of $8 for each American bank depositary account.
The offers of Vnet ( VNET) were also announced following a Bloomberg report late in April that Chindata Group ( CD) also a Chinese data centre business was approached by other companies in the industry. GDS Holdings ( GDS) is believed to be looking into an offer to merge with Chindata in accordance with the news report.