6/14/2012 11:04:41 AM
France Telecom 'could float Everything Everywhere stake'
France Telecom could float its stake in Everything Everywhere, after the operator's CFO said the UK business was starting to fulfill its potential.
Gervais Pellissier was speaking yesterday (13 June) at a Reuters event in Paris. When asked about the possibility of floating its 50% share, he said: 'It could be an opportunity... If Everything Everywhere is really on the right track in terms of synergies and if we can make a good case to investors, we might look at a listing. But my feeling is we would keep control, both of us.'
He added: 'In the UK, we have created the number one operator in the market and if we succeed it will have value. But the partners need to distinguish between the short-term value we could get from an IPO or a sale, and the long-term value of being number one in the UK for the two companies.'
Pellissier said more needed to be done in terms of branding in the UK. Mobile understands it is working on a rebrand strategy, which could result in the business being rebranded as Orange. He said: 'There will be a new brand probably, whether the two other brands survive or not that is a big question... You cannot cover 40% market share with one brand today. The question is how do you organise the brands between themselves.'