Greenfield Capital, a Dutch private equity firm specialising in distressed assets, is looking to sell a minority stake in Telfort, a Dutch mobile phone operator, as part of its refinancing of the company.

The sale is at an early stage but Blackstone, the US private equity group, is one of the front-runners to buy the stake, according to a source close to the deal. ABN Amro, the Dutch bank, is advising Greenfield.