Danish outfit TDC could become the latest telco at the centre of a bidding war following reports that Swisscom is considering making a bid.
Last week it emerged that a consortium comprising Apax, Blackstone, Kohlberg Kravis Roberts, Permira and Providence stumped up almost $11.5bn (£6.7bn) to make a bid for TDC, although at the time there was speculation that a rival group of investors was also understood to be preparing a bid.
Now, the WSJ reports that Swisscom is considering joining forces with this rival consortium - which includes UK and US investors - to make a $12bn (£6.9bn) bid for the Danish telco.
And just to cover all eventualities, nothing is yet confirmed so Swisscom might decide to go it alone or not bid at all.
Earlier this month Swisscom confirmed that it is in talks to buy Irish carrier Eircom. ® ®