Clifford Chance and Latham and Watkins are advising on a major German broadband deal, which could lead to the creation of a new player in the European telecommunications market.

Global investment firm KKR and Dutch investor Reggeborgh are selling Deutsche Glasfaser, a German provider of fibre optic networks, to EQT, a Swedish private equity company, and  Canadian pension fund OMERS. The deal has been reportedly valued at more than €2.5 billion.