Dutch-based cable and pay TV operator United Group has attracted takeover interest from London-based private equity funds Cinven and BC Partners ahead of an auction process.

The company could be valued at about 2 billion euros ($2.33 billion), making it one of the biggest private equity deals in the Balkan region. Based in the Netherlands, United Group is Serbia’s largest cable company and is also active in Slovenia, Bosnia and Montenegro.

The auction will mainly involve heavyweight private equity firms with a focus on the telecommunications industry and an appetite to expand across central and eastern Europe.

The deal is expected to kick off in September.