France Telecom could reportedly consider floating a stake in the 50/50 UK mobile operator joint venture it shares with Deutsche Telekom.
Gervais Pellissier, FT’s CFO, told delegates at a conference that it could be an option, as the venture begins…
France Telecom could reportedly consider floating a stake in the 50/50 UK mobile operator joint venture it shares with Deutsche Telekom.
Gervais Pellissier, FT’s CFO, told delegates at a conference that it could be an option, as the venture begins to generate synergies from the 2010 merger that created it.
The venture, called Everything Everywhere, was formed when FT combined its UK Orange subsidiary with Deutsche Telekom’s T-Mobile.
According to Reuters, Pellissier added, however, that he expected EE’s current owners would want to keep control of the group.
Industry observers have long suggested that EE could be offered to investors, although typically the speculation has centred on Deutsche Telekom, which last year failed to sell its US subsidiary because of regulatory obstacles.
Helping to fuel the sale speculation has been EE’s moves away from its JV owners to raise debt independently. Earlier this year, the venture issued its first bond, placing €500m worth of five-year notes. Late last year, the group announced its first bank facilities as an independent financial entity, when it secured a revolver and a term loan for a combined £875m.
