The private equity firm is reportedly in talks with a partner on a joint offer for Vnet but that partner has asked to remain anonymous according to Bloomberg.
Blackstone-backed Vnet has been drawing interest from several investment funds in the industry.
Vnet previously received an offer from Chinese investment companies Hina Group and Industrial Bank Co that valued the company at around US$1.1 billion.
The bid from MBK is set to compete with that offer.
MBK already has US$25.6 billion in capital under its management and primarily focuses its operations in China, Japan and South Korea.
Vnet offers carrier-neutral data centre services in China and has been active in the market since its inception in 1996.
The company, which recently changed its name from 21Vianet Group, counts over 50 data centres across its portfolio in more than 30 cities across China.
