EE float delayed until next year

EE float delayed until next year

Orange has put a brake on plans to float EE to give it time to boost its financial performance.

Orange, previously known as France Télécom, said that a listing of EE would not now take place until next year.

The French company jointly owns EE with Deutsche Telekom. Earlier this year it had pointed to a possible listing taking place in the second half of this year.

Gervais Pellissier (pictured), the chief financial officer of Orange, said: ‘We prefer to give the team at EE time to present the whole year of 2013 results to the markets, so the initial public offering, if we do it, will be in 2014 and not before.’

A number of consortia have shown interest in bidding for EE including one led by former Orange UK CEO Tom Alexander.

Earlier this week EE, which has 27.5 million customers, reported strong second-quarter results  raising hopes of an an imminent float.

The operator also said that it had achieved 92% planned cost savings following the merger of Orange and T-Mobile.

Written by Mobile Today
Mobile Today


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