UAE's Mubadala explores buying Clear Channel Outdoor, Bloomberg News reports

Oct 17(Reuters) – Mubadala Capital, a unit of Abu Dhabi's sovereign wealth fund, is working on a potential deal to acquire billboard operator Clear Channel Outdoor, Bloomberg News reported on Friday, citing people familiar with the matter. Activist investor Anson Funds Management had pushed for the sale of Clear Channel last month, the report said, and comes at a time when dealmaking in outdoor advertising has been lately heating up. The San Antonio, Texas-based company has about $6.4 billion in debt, the report added. While the asset management firm has a sprawling global portfolio, it is not a major player in US media investments. The potential take-private move is the latest from Mubadala Capital, which earlier this year had sold a minority stake in its company to investment firm TWG Global led by Guggenheim Partners founder Mark Walter and financier Thomas Tull. (Reporting by Anuj T in Bengaluru; Editing by Shailesh Kuber)

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