On June 10, 2020, AllianceBernstein LP has criticized a private equity consortium's bid for Spanish telecoms company MasMovil Ibercom SA as too low and called on the Company's board to seek better terms or shop for rival offers. KKR & Co., Cinven Partners LLP and Providence Equity Partners LLC launched a Euro2.96 billion ($3.34 billion) offer for the Company on June 1, which was backed by the Company’s board. AllianceBernstein expressed its view that the bid undervalues the Company, based on management’s own forecasts for free cash flow generation.