Sky has appointed advisers, including investment bank Lazard, to examine its UK mobile options, City A.M. understands.
The move, first reported by the Financial Times, comes as the telecoms sector has lit up with deal talk over the past week since BT confirmed its takeover talks with O2 and EE to enter the mobile market.
Meanwhile, the owner of Britain’s smallest mobile network, Three, is reportedly preparing to enter the ring and challenge BT with a bid for EE or O2 by the end of the year.
Sky is now understood to be working with Lazard to examine what the latest movements in the telecoms sector mean for its business.
Three weeks ago it became one of the largest pay TV operators in Europe after acquiring Sky Deutschland and Sky Italia in a £7bn deal.
Sky is not thought to have any current plans to enter a bidding war with BT and Three for EE or O2.
A Sky spokesperson declined to comment.