Mobile network EE could be set for £10bn flotation

EE: Set for �10bn floatation. Picture: PA
EE: Set for �10bn floatation. Picture: PA
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Mobile phone company EE looks set to float in London this year, as its French and German owners take advantage of the buoyant stock market.

Britain’s biggest mobile service provider, formerly known as Everything Everywhere, would be valued at around £10 billion under plans for a listing reported yesterday.

It is thought that Deutsche Telekom and France Telecom would look to sell about 25 per cent of the business in an initial offering, possibly as early as this September.

The pair created EE with the merger of their British brands Orange and T-Mobile, making it the largest mobile network in the UK.

Both firms have hinted in recent months that they would float the business. However, yesterday’s report suggested that the European duo would remain in control of the company with a 75 per cent holding between them.

They are said to have held meetings with investment banks and could be close to appointing advisers. Britain’s Barclays is among those tipped for a role in the flotation.