Private equity players buy GTS Central Europe

A consortium of private equity firms has acquired telecoms business GTS Central Europe from Group Menatep Ltd for an undisclosed sum.

Columbia Capital, M/C Venture Partners and Innova Capital led the team with HarbourVest Partners, Oak Investment Partners and Bessemer Venture Partners also participating.

GTS operates across the CEE region in Czech Republic, Poland, Hungary, Romania, Slovakia, Ukraine, Latvia, Slovenia, Bulgaria, Croatia and Serbia. It generated revenues of around €400 (US$617m) in 2007.