France Telecom moves forward on EE sale
France Telecom has reportedly hired banks to advise on the dual-track sale process of mobile operator Everything Everywhere (EE), which attracted private equity interest last summer.
The French telecoms giant has hired Morgan Stanley to lead the process according to the Financial Times, which broke the news. Bank of America Merrill Lynch could also play a role. Deutsche Telekom, which partly owns EE, is understood to be appointing separate advisers.
The banks are expected to advise on a dual-track process, exploring both the possibilites of a sale or flotation.
Private equity firms including Apax and KKR were believed to be in discussions to bid for the UK mobile operator last summer, with a price tag rumoured to exceed €8bn at the time. EE is a joint venture held by T-Mobile and Orange, following a merger in 2010.
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