Our telecoms specialist James Titcomb:
EE, formerly known as Everything Everywhere, is being prepared for a listing that would raise billions for its owners, France Telecom (FT) and Deutsche Telekom (DT).
Everything Everywhere was formed in 2010 when Orange and T-Mobile merged, creating the UK’s biggest mobile company. It has since launched Britain’s first high speed 4G mobile network under the EE name and boasts 27m customers.
FT and DT, which each own half of EE, will retain majority control. However, floating a quarter of the firm could raise as much as £2.5bn, giving the firms a cash injection. An IPO would be London’s biggest since commodities giant Glencore raised £6bn in 2011, and would breathe life into a dormant IPO market.
In March Deutsche Telecom said that a float would not happen until the fourth quarter at the earliest.