UK mobile operator Everything Everywhere is on the verge of appointing advisers to help it sell a reported £425m of spectrum that it is required to offload in 2012.
Advisers will be hired “to provide us with independent professional advice on the…
UK mobile operator Everything Everywhere is on the verge of appointing advisers to help it sell a reported £425m of spectrum that it is required to offload in 2012.
Advisers will be hired “to provide us with independent professional advice on the sale of our 1800MHz spectrum,” confirmed a spokesperson for the company, a joint venture between Deutsche Telekom and France Telekom.
The company added that it expects to mandate advisers before the end of January 2012.
Everything Everywhere has to offload 25% of its 2G spectrum next year to satisfy European Commission conditions that were put in place as part of its approval for the creation of the joint venture. The group is understood to be seeking EC approval to decrease the amount of frequencies it has to dispose, which currently stands at 30MHz.
Front running bidders are likely to be local mobile operators Vodafone and O2, although 3, the UK’s smallest operator, would presumably also be interested in the spectrum as demand for mobile broadband continues to skyrocket.
Local regulator Ofcom is also due to launch its long-awaited auction of 4G frequencies in the second half of 2012.
