Feeds

EE owners: Yeah, we're cool with things as they are... IPO? Nah, not really

Deutsche Telekom and Orange decide to hang onto Blighty's largest mobile operator

Security and trust: The backbone of doing business over the internet

The owners of Blighty's EE mobile operator have said that they're going to hang onto the company for now, delaying potential plans to float the firm or sell off their stakes.

Germany's Deutsche Telekom and France's Orange said they want to maintain the current management structure of the joint venture, which was created in 2010 when the Orange and T-Mobile brands merged.

"Deutsche Telekom and Orange have concluded the 2013 strategic asset review of EE and are very satisfied with EE's progress and financial performance under the leadership of CEO Olaf Swantee and his management team," the firms said in an emailed statement.

"The shareholders have both agreed that the best option for value creation is to maintain the current ownership structure for the time being, and they look forward to continuing their successful cooperation in the UK market."

Both firms had hinted at various points last year that they might think about selling off part of the firm or taking it through an IPO. In February, Orange's CFO Gervais Pellissier said:

We’re looking at putting a small part of EE, maybe 15 or 20 per cent, on the market at the end of 2013 or beginning of next year. Depending on British market conditions as well as EE’s first-half earnings, we’ll judge whether an IPO is fit.

Meanwhile, Deutsche said that it would prefer a partial listing of the company, which launched the first of the UK's 4G mobile networks in 2011.

The companies decided to shelve the IPO plans because they reckon that EE will be worth more when more Brits sign up to the 4G data packages, which have a higher profit margin for the firm than old 3G contracts, knowledgeable people told the Financial Times. ®

Protecting users from Firesheep and other Sidejacking attacks with SSL

More from The Register

next story
Brit telcos warn Scots that voting Yes could lead to HEFTY bills
BT and Co: Independence vote likely to mean 'increased costs'
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
ISPs' post-net-neutrality world is built on 'bribes' says Tim Berners-Lee
Father of the worldwide web is extremely peeved over pay-per-packet-type plans
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Turnbull: NBN won't turn your town into Silicon Valley
'People have been brainwashed to believe that their world will be changed forever if they get FTTP'
Google+ GOING, GOING ... ? Newbie Gmailers no longer forced into mandatory ID slurp
Mountain View distances itself from lame 'network thingy'
Blockbuster book lays out the first 20 years of the Smartphone Wars
Symbian's David Wood bares all. Not for the faint hearted
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.