UK mobile operator Everything Everywhere is reportedly in exclusive talks to mandate RBS to oversee the sale of spectrum it is required to offload this year.
The company, a Deutsche Telekom and France Telecom JV, is set to begin auctioning the…
UK mobile operator Everything Everywhere is reportedly in exclusive talks to mandate RBS to oversee the sale of spectrum it is required to offload this year.
The company, a Deutsche Telekom and France Telecom JV, is set to begin auctioning the spectrum in February and could raise as much as £400m, reported the FT.
TelecomFinance understands the company is down to a shortlist, but discussions are continuing with multiple banks. Everything Everywhere has previously said it expects to hire advisers before the end of January.
A spokesperson for the group declined to comment on the speculation, but reaffirmed: “Everything Everywhere is in discussions with external advisors to provide independent professional advice on the sale of 2X15MHz of our 1800MHz spectrum. We will provide more information in due course once an agreement with an adviser has been signed.”
Everything Everywhere has to offload 25% of its 2G spectrum in 2012 to satisfy European Commission conditions that are tied to its approval for the creation of the JV.
It is understood that the company has sought EC approval to decrease the amount of frequencies it has to dispose, which stands at 30MHz.
Other UK mobile operators Vodafone and O2 are likely to be front running bidders for the frequencies, although 3, the country’s smallest operator, would presumably also be interested in the auction as demand for mobile broadband continues to surge.
