- Orange (ORAN +0.2%) and Deutsche Telekom (DTEGY, DTEGF) have cancelled plans to take their Everything Everywhere U.K. mobile JV public. Orange asserts maintaining the current 50/50 JV structure is the "best option for value creation."
- Bloomberg reported in September Orange and DT were delaying an effort to sell EE as they waited for AT&T to expand into Europe (possibly by bidding for EE rival Vodafone). The fact debt-laden DT appears set to receive one of more bids for its 67% stake in T-Mobile USA (a sale could fetch the company more than $20B) might also be influencing its decision.
- EE is the U.K.'s largest mobile carrier (28M subs), and established an early lead in rolling out 4G services within the country. The company's 4G base recently surpassed 2M.
Orange, DT call off Everything Everywhere IPO
Jan 17 2014, 12:13 ET