Telefonica delays IPO of O2 UK until after Brexit - report

News Wireless United Kingdom 22 OCT 2018
Telefonica delays IPO of O2 UK until after Brexit - report

Telefonica has decided to delay plans for a stock market flotation of subsidiary O2 UK until after Brexit amid market uncertainty and recent IPO failures. An IPO of the mobile operator had been expected by end-2018, but sources with knowledge of the matter told the Press Association that those plans were now on hold. 

Telefonica had been looking to float O2 UK, which analysts value at up to GBP 40 billion, to help lower its around EUR 40 billion debt burden. However, the group has managed to strengthen its cash flow, making the need to float its subsidiary less urgent. 

Categories:

Mobile

Companies:

O2,  O2 UK,  Telefonica

Countries:

United Kingdom

Tags:

Data services, Messaging, Company, Services, Corporate, Finance, Corporate strategy, Financial funding

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