Spanish telecoms group Telefonica has reportedly hired four banks as bookrunners for the planned IPO of its German O2 unit.
Bank of America, BNP Paribas, Citigroup and HSBC will advise on the float of a 20% stake in O2 for about €1bn to €1.5bn…
Spanish telecoms group Telefonica has reportedly hired four banks as bookrunners for the planned IPO of its German O2 unit.
Bank of America, BNP Paribas, Citigroup and HSBC will advise on the float of a 20% stake in O2 for about €1bn to €1.5bn (US$1.25bn to US$1.88bn), Bloomberg reported, citing unidentified people familiar with the process.
Lead arrangers UBS and JP Morgan & Chase may start formally assessing market interest at the end of September, the report cited its sources as saying.
The planned IPO forms part of the Madrid-based group’s comprehensive plan to cut debt, improve liquidity and maintain agency ratings.
Telefonica Europe head, Jose Maria Alvarez-Pallette, told reporters in Santander, Spain yesterday (4 September) that the group is continuing with its asset disposal programme and remaining open-minded about the options for each. The company is reportedly close to selling its Spanish call centre Atento.
Telefonica chairman Cesar Alierta told investors on a July conference call that the group planned to launch the German IPO in the fourth quarter, having decided “swift action” is needed.
The group is also assessing listing options for Latin American assets.
