Saudi Arabia's STC Group is in the early stages of considering an offer for European telecom and pay-TV operator United Group. UK buyout group BC Partners, which acquired United Group from KKR in 2019, is working with advisors on a sale set to begin in the coming weeks. While STC has initiated early-stage work on the transaction, there is no certainty it will result in a formal offer. A potential deal could value United Group at around 8 billion euros ($8.7 billion) including debt, though sources cautioned that the deal might not materialize. If successful, this acquisition would mark another step in STC's expansion into the European telecom sector.

Last year, STC acquired a 4.9% stake in Spain's Telefonica, with the potential to increase it further, and its subsidiary TAWAL acquired United Group’s telecommunications tower assets in Bulgaria, Croatia, and Slovenia. BC Partners is exploring ways to maximize the value of a sale, including the possibility of splitting it into different regions. The sale has also drawn interest from infrastructure funds looking to bid on specific countries such as Greece, Croatia, and Slovenia. In April, Emirates Telecommunications reviewed relevant market opportunities but did not enter into any negotiations or agreements to acquire United Group. Last year, United Group's revenue grew 7% to 2.7 billion euros, with earnings before interest, tax, depreciation, and amortization after leases reaching 988 million euros.