French mobile operator SFR is preparing for a listing, its chairman Stephane Roussel said during a conference organised by local newspaper Les Echos.
Roussel added that the IPO would depend on market conditions. He also noted, according to Bloomberg,…
French mobile operator SFR is preparing for a listing, its chairman Stephane Roussel said during a conference organised by local newspaper Les Echos.
Roussel added that the IPO would depend on market conditions. He also noted, according to Bloomberg, that parent company Vivendi would ultimately decide on timing.
During the annual meeting of shareholders in late April, Jean-Rene Fourtou, chairman of the French media and telecoms conglomerate, had said that Vivendi was considering listing its fully-owned mobile subsidiary but not in the short term.
According to Les Echos citing Vivendi officials, a flotation could take place towards the end of 2014 or in early 2015. SFR’s valuation has been estimated by analysts at around €13bn (US$17.2bn).
But the mobile operator, which has faced increased competition since the launch of competitor Free Mobile about a year, first needs to be turned around, Fourtou said.
As part of this strategy, Jean-Yves Charlier was appointed in late May as the mobile operator’s fourth CEO in just over a year. He replaced Roussel, who is staying on as chairman.
Roussel told Les Echos that this reorganisation will also allow SFR to be “more autonomous” from Vivendi.
