A round up of Thursday's private equity news in brief from around Europe

Clayton, Dubilier & Rice the US-based private equity investment firm, has acquired Italtel, Telecom Italia's telecommunications switching equipment subsidiary, in a transaction valued at approximately €1bn ($0.9bn). In addition to CD&R, the investor group includes Cisco Systems, and two other private equity firms, Advent International and Brera Capital. Italtel and Cisco intend to support joint customers by providing integrated applications and solutions in the converged data, voice and video arena.