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CORRECTED-Euskaltel gets three bids for stake in broadband network unit, Expansion says

(Corrects day to Thursday in paragraph 1)

MADRID, Dec 17 (Reuters) - Spanish regional telecoms operator Euskaltel has received three bids from buyout funds for a stake in its broadband network unit, Expansion newspaper reported on Thursday, citing unnamed financial sources.

Australia’s First Sentier Investors, Paris-based Infravia Capital Partners and Canada’s Fiera Capital are bidding for a stake of up to 49% of Euskaltel potential spin-off, the newspaper reported.

Euskaltel, which would keep a majority stake in the unit, is seeking to sell the stake as part of a financing plan for the 364 million euros it needs to invest in the unit between 2021 and 2023, the newspaper said.

The company operates mobile telephone, internet and cable TV networks in the northern Spanish regions of the Basque country, Galicia and Asturias, where it faces increasing competition from rivals.

Officials at Euskaltel were not immediately available for comment. First Sentier Investors, Infravia and Fiera Capital did not immediately return emails seeking comment. (Reporting by Inti Landauro; editing by David Evans)

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