PRINT THIS PAGE Two private equity consortiums consider $8bn bids for US Citizens Communications28/04/2004. Source: AltAssets. 
 Two groups of private equity firms have formed consortiums to explore bids for US rural telecommunications provider, Citizens Communications. The transaction is expected to raise up to $8bn.
The first consortium is made up of Carlyle Group, Kohlberg Kravis Roberts, Madison Dearborn and Providence Equity Partners. Blackstone, Thomas H Lee and Bain Capital are also jointly exploring a bid, according to the Financial Times.
If the company were sold to a private equity group, it would be one of the largest buy-outs of the year. In addition to its $3.8bn in market value, buyers would have to assume nearly $4bn of Citizen's debt, bringing the total cost close to the reported $8bn price tag.
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