Abu Dhabi’s Mubadala is considering buying a stake in private equity firm EQT AB’s fiber network operator GlobalConnect, a deal that could value business at $7 billion, according to a Bloomberg report.

The Abu Dhabi state-backed fund is in early talks to acquire a minority stake in the company, Bloomberg reported citing sources.  

EQT’s infrastructure arm has been exploring the sale of a minority stake in GlobalConnect, with a deal likely to value the business at between €7 billion ($6.9 billion) and €10 billion euros including debt, according to earlier Bloomberg reports.

GlobalConnect operates data centres in Sweden, Norway, Denmark, Finland and Germany.

Mubadala is also in talks to buy Fortress Investment Group from SoftBank Group Corp. for more than $2 billion. Abu Dhabi oil giant ADNOC is also in talks buy all or part of commodities trading house Gunvor Group, Bloomberg News reported this week.

(Reporting by Imogen Lillywhite; editing by Daniel Luiz)