UK retailer Carphone Warehouse hopes to sell its 46 percent stake in French full MVNO Virgin Mobile France before the summer, or at worst by the end of the year, writes Les Echos, citing a report by UK corporate finance adviser DC Advisory. Several market players suggest 15 May as the date for offers to be submitted. According to a number of sources the price ranges from EUR 150 million if the buyer is an MVNO to EUR 300 million if it is an MNO.
Les Echos has learned that Bouygues and SFR are ready to make an offer. Orange, Virgin Mobile France's original host network, has argued that Virgin's customers are too prone to disloyalty. Business operator Coriolis is discussing the matter with an eye to diversification and Credit Mutuel-CIC is one of several MVNOs that would benefit from the synergies of a merger. If Carphone sells, Virgin Mobile France's management could add its 8 percent stake to the sale. Finally, an IPO would enable Virgin Group to keep its stake.
