France Telecom has reportedly hired Morgan Stanley to advise on the part flotation or sale of EE as it aims to realise value from the UK operator before year end.
BofA Merrill Lynch is also expected to play a lead role in the dual track process,…
France Telecom has reportedly hired Morgan Stanley to advise on the part flotation or sale of EE as it aims to realise value from the UK operator before year end.
BofA Merrill Lynch is also expected to play a lead role in the dual track process, reported the Financial Times citing a person familiar with the situation.
Reuters added that Deutsche Telekom, which owns the other half of the EE joint venture, is expected to hire JP Morgan because of the role it played in forming the group back in 2009.
France Telecom and Deutsche Telekom declined to comment.
An IPO is thought to be the favoured option, and the owners have previously said they would want to keep a majority stake in the group.
EE’s parent companies first announced plans to list a stake in autumn 2012, with France Telecom saying then it could see a window for a flotation before the end of 2013.
In February this year, the French telco’s CEO said an IPO was still on the cards if it was able to develop EE further and optimise its leverage.
Meanwhile private equity firms have reportedly been circling the group, and strategic players such as AT&T in the US have also been in the frame for the asset.
