euNetworks officially has a new majority owner. Stonepeak Infrastructure Partners has successfully closed its purchase of a majority stake in the pan-European network operator, joining Columbia Capital who will be staying on with a material interest.
Now we will have to see what euNetworks does with the influx of equity capital. Stonepeak has said that it looks forward to investing another $500M into the company. euNetworks has been steadily expanding its reach into northern, southern, and eastern Europe, but it's been doing it with a whole lot less of a war chest than that.
I still think that this might be the prelude to a bid for Interoute, although there are other inorganic targets out there of course.
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